On June 18, 2019, the Asian Development Bank under the Trade Finance Program (TFP) conducted an intensive training course on the issues of strengthening trade finance in Uzbekistan for employees of JSCB Sanoat Qurilish Bank (Uzbekistan Industrial and Construction Bank), in Tashkent.
ADB is expanding its support to Uzbekistan through conducting intensive training on the issues of strengthening trade finance.
Within the framework of the two-day workshop, information was provided on segments of pre-export and post-import financing, organization of the supply chain, transaction structure, and analysis of the level of sales by customers.
“We are very grateful to the current partnership with Sanoat Qurilish Bank, acting as a link promoting the bank’s initiatives for increasing the trade finance potential in Uzbekistan. This program focuses on modern approaches to training partner bank employees in order to increase trade finance and supply chains, which are important tools for development of companies in Uzbekistan”, – said Investment Specialist at ADB’s Trade Finance Program Ms. Nana Khurodze.
Being the leading bank of Uzbekistan, Sanoat Qurilish Bank maintains strong and sustainable partnership with ADB since 2013.
Sanoat Qurilish Bank accepted ADB’s offer on organizing a two-day workshop with participation of Sanoat Qurilish Bank employees in order to strengthen further cooperation.
Sanoat Qurilish Bank highly appreciating ADB’s services, as well as experience in implementing various international projects, was looking forward to meeting with ADB experts to study best practices from the original source, which undoubtedly will positively affect the bank’s activities.
“We warmly welcome representatives of ADB in the Republic of Uzbekistan represented by Ms. Nana Khurodze and hope that this visit, timed to training program, will contribute to a more sustainable development of bilateral relations between our organizations and will contribute to understand doing business in accordance with ADB high standards”, – noted the First Deputy Chairman of the Board of the Bank, Mr. S. Annaklichev.
Based on the AAA credit rating, the Trade Finance Program (TFP) provides guarantees and loans to more than 200 partner banks to support trade, which in turn creates prerequisites for most Central Asian companies for promoting import and export initiatives.
Since 2009, ADB TFP provides support to more than 15,000 SMEs in developing countries of Asia through various transactions. This in quantitative terms equates to 21,000 transactions with a total amount of more than 36 billion US dollars in such sectors as production of goods and services, as well as medical supplies and consumer goods.
By 2018, the level of TFP rose by almost 40%, facilitating trade of at 6.2 billion USD through 4,470 transactions. TFP enriches the process of providing financial support for “knowledge products”, including conducting research that qualitatively identifies vital gaps in trade finance market, supporting initiatives for increasing the role of women in the banking sector, improving approaches to environmental protection, as well as through ensuring transparency of the global financial system, providing all possible assistance to crime fighting initiatives.
TFP also organizes workshops and trainings for improving the skills and developments in the issues of finance, trade, risk management and fraud prevention.
ADB is committed to building a developed, open, and sustainable economy in the Asia-Pacific region through efforts on eradicating poverty.
It should be noted that in 2018, ADB made commitments on new loans and grants amounting to 21.6 billion US dollars.
Information Service of the Bank