ADB to sign agreements with banks.

ISLAMABAD, 12 May, 2009 (Balochistan Times) -- The Asian Development Bank (ADB) will sign Trade-Financing and Facilitation Agreements (TFFP) with a large number of Pakistani banks here on May 15. The TFFP is aimed at bolstering export and import activities, resulting in an improvement of the Pakistan economy. In order to enhance trade among its member countries and to help counter declining exports, ADBs Board recently approved an expansion of the TFFP to US$ 1 billion. The TFFP provides a mechanism to reduce and mitigate commercial and political risks associated with international trade in ADBs member countries, including Pakistan. Under the program, ADB works with the private sector to maintain and enhance trade credit to member countries by supporting imports of goods, including critical goods such as machinery, food, medicine, fuel and inputs for export products. The TFFP will enable ADB to provide Pakistani banks access to more trade credit lines, help develop correspondent relationships with confirming banks; avoid the need to place cash collateral; and provide more support to importing and exporting clients.

(THROUGH ASIA PULSE)