Consortium of Global Multilateral Development Banks Calls for Measures to Support Trade Continuity in Sub-Saharan Africa

Consortium of Global Multilateral Development Banks Calls for Measures to Support Trade Continuity in Sub-Saharan Africa

Consortium of Global Multilateral Development Banks Calls for Measures to Support Trade Continuity in Sub-Saharan Africa

The report issued by a consortium of multilateral development banks and trade research institutions, recounts the views of sub-Saharan banks on multi-lateral development banks' (MDBs) responses to uphold a well-functioning trade finance market.

The report, which brings together perspectives & insights from 70 trade finance executives from 20 countries, unanimously calls for an urgent switch in the focus of support programs towards private sector and smaller enterprises to avoid a ‘second wave insolvency crisis' that threatens greater, and far more widespread, economic hardship on the continent than we have seen till now.

Demand for trade finance instruments in the first half of 2020 seems to have flattened compared to growth expectations, while banks, supplying those instruments, have