23 May 17

Financing Entrepreneurship for 2030: Trade Finance and Correspondent Banking

New York, United States, • English

The importance of short-term finance to support global trade—known as “trade finance”—is explicitly recognised in the Addis Ababa Action Agenda. Trade financing is an essential tool to support the growth of entrepreneurs and small businesses in developing and least-developed economies, by enabling access to global markets and value chains.

Description

A number of institutions have recently raised concerns about a growing shortage of finance to support international tradewith studies pointing to a US$1.6tn shortfall in trade finance globally. Small businesses and entrepreneurs appear to be most acutely affected by this trend.

An on-going deterioration in the global correspondent banking network has been cited as the principle driver of the trade finance gap. Research published this month finds that global banks have on average cut their relationships with banks in other countries by 25% over the past seven years—placing a major strain on the ability of the international financial system to support entrepreneurship and trade-led sustainable development.

Join us for an interactive discussion of the trade finance gap, the correspondent banking ecosystem, and the role of the UN’s FfD process in securing adequate financing for entrepreneurship.

Date: Tuesday, 23 May

Time: 16:30 – 18:00

Location: UN Headquarters, CRB