$1.5 trillion global trade finance gap frustrating efforts to deliver crucial jobs and growth: ADB

ISLAMABAD, Sep 4 (APP):A stubbornly high $1.5 trillion global trade finance gap is holding back efforts to deliver vital jobs and growth amid ongoing economic uncertainty, according to the latest Trade Finance Gap, Growth, and Job Survey, released by the Asian Development Bank (ADB).

Small and medium-sized enterprises (SMEs) face the biggest challenges obtaining trade finance, the report notes, and companies led by women often face additional barriers.

The Trade Finance Gap, Growth, and Job Survey is based on responses from banks, firms, and export credit agencies globally and is the world’s leading barometer of trade finance health.

Its 6th edition finds that the trade finance gap continues to impede progress toward the Sustainable Development Goals, especially targets pertaining to women’s economic empowerment, job creation, and inclusive growth.