The agreements, the first such agreements that ADB has signed in the central Asian country, are part of ADB’s Trade Finance Program, which provides guarantees and loans through banks to support international trade in ADB’s developing member countries.
ADB vice-president for Private Sector and Confinancing Operations Lakshmi Venkatachalam said the trade finance agreements should help firms, including small- and medium-sized enterprises, to access key financing and do more business. In turn, that boosts employment, promotes economic growth, and enhances the country’s international trade links.
In 2010, ADB’s Trade Finance Program supported trade transactions worth $2.8bn, a 47% increase from $1.9bn in 2009.
