日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Africa

African Development Bank joins other multilateral banks to support trade finance

By Edith Mutethya in Nairobi, Kenya | chinadaily.com.cn | Updated: 2020-07-03 17:47
Share
Share - WeChat
The headquarters of the African Development Bank are pictured in Abidjan, Ivory Coast, January 30, 2020. [Photo/Agencies]

The African Development Bank Group has joined the World Trade Organization and other multilateral development banks to reduce trade finance gaps emerging as a result of the coronavirus pandemic.

In a joint press release issued on July 1, the institutions said they would prioritize their support to areas in the world where such support is needed most, particularly the poorest countries.

Since the beginning of the coronavirus outbreak, multilateral development banks have stepped up their trade finance programs to support essential imports and key exports, as international correspondent banks have cut lending in many countries.

In addition to the ongoing shocks to supply and demand, international trade has been affected by a reduction in the supply of trade finance.

Risk perceptions about non-payment in international trade are at their highest levels in a decade, and banks are increasingly reluctant to take on payment risks in many countries where economic conditions are deteriorating.

Facilitating trade in medical supplies has been a significant part of these support packages.

With the approval of its $10 billion COVID-19 Rapid Response Facility in April, the African Development Bank is providing up to $1 billion in trade finance liquidity and risk mitigation support to local banks in all 54 eligible African member countries.

More support will almost certainly be necessary in the weeks and months ahead, as the steep decline in the real economy starts to impact the financial system through loan defaults and corporate bankruptcies.

Many developing countries were experiencing significant trade finance shortages even before the coronavirus crisis; now they face even tighter access to trade credit.

A further decline in trade finance supply would, in the short term, make it harder for imports of food and medical equipment to reach economies where they are urgently needed. In the medium term, it would impede the ability of trade to help drive economic recovery.

Insufficient trade finance threatens to compromise otherwise viable trade transactions, disproportionately affecting micro, small, and medium-sized enterprises, which account for the bulk of employment in Africa.

"We share the concerns being expressed in markets, and will work within our respective remits to make trade finance available through this difficult period, just as we did during the global financial crisis of 2008-10," the joint statement said.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 亚洲欧洲一区二区 | 精品视频一区二区 | a视频在线看 | 亚洲欧美在线观看 | 中文字幕网在线 | 亚洲高清不卡 | 久视频免费精品6 | 99久久久无码国产精品 | 日日摸夜夜摸人人嗷嗷叫 | 亚洲欧美另类色妞网站 | 在线精品自拍亚洲第一区 | 夜夜摸夜夜爽 | 免费性生活视频 | 舒淇三级浴室洗澡在线观看 | 欧美成人一品道免费视频 | 丁香六月综合 | 性xxxx免费观看视频 | 久久机热综合久久国产 | 无遮挡很爽很污很黄的网站w | 国产精品热 | 日本字幕在线观看 | 日韩一区精品 | 天天在线综合网 | www.99av| 激情伊人网 | 伊人欧美 | 欧美一级视| 国产精品小黄鸭一区二区三区 | 免费观看一级特黄欧美大片 | 成人一区二区三区在线 | 欧美激情a∨在线视频播放 中文字幕亚洲图片 | www.狠狠色 | 国产一区二区精品久久91 | 国产一区网址 | 国产一区二区精品在线 | 国产91亚洲精品 | 欧美日韩一区二区三区视频播 | 99这里只有精品视频 | 一级一级毛片免费看 | 波多野结衣mxgs1124在线 | 久久国产成人 |