Hopes of opening the Myanmar trade finance sector are growing, after the Asian Development Bank (ADB) issued its first guarantee in the country. As part of its Trade Finance Programme (TFP), the ADB guaranteed a letter of credit issued by Banca Popolare di Sondrio of Italy to local lender United Amara Bank (UAB), one of […]
ADB Trade Finance Program Marks Milestone with First Transaction in Myanmar
February 20, 2017 by
The Asian Development Bank’s (ADB) Trade Finance Program (TFP) has issued its first guarantee for Myanmar, supporting the import of fertilizers from Italy. The guarantee was issued in favor of Banca Popolare di Sondrio in Italy in respect of the payment obligation of United Amara Bank (UAB), one of TFP’s local partner banks in Myanmar. […]
