The Asian Development Bank (ADB) and British International Investment (BII), the United Kingdom government’s development finance institution and impact investor, have launched a new trade finance partnership to promote green trade in Asia and the Pacific. Managed by ADB’s Trade and Supply Chain Finance Program (TSCFP), the initiative will prioritise renewable energy, energy efficiency, and climate-smart agriculture to help reduce dependency on fossil fuels.
ADB and BII will enter into a risk-sharing agreement to help international banks increase their financing support to local banks. This support will initially focus on Vietnam transactions and will be subsequently extended to other countries supported by ADB and BII. This partnership will provide financing for local importers of solar panels, wind turbines, electric vehicles, and agricultural goods, supporting the region’s transition to cleaner sources of energy.
