In a signing ceremony that took place at Sibos, BNY Mellon became partner to the Asian Development Bank’s (ADB) Trade Finance Program (TFP). The program enables companies throughout Asia to engage in import and export activities through the provision of loans and guarantees by partner banks, such as BNY Mellon.
Steve Beck, ADB’s Head of Trade Finance, said: “Trade finance is a critical component to Asia’s economic growth and the global economy, especially to small and medium-sized enterprises. To further support interregional and global trade through our Trade Finance Program, it is imperative to partner with global leading banks like BNY Mellon to increase trade and trade finance in Asia. As one of the world’s most respected trade finance banks, we very much welcome this partnership with BNY Mellon.”