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The Asian EXIM Banks Forum Annual Meeting is being held in China for the first time in 11 years.
Over a dozen export credit agencies and three multilateral financial institutions are attending the forum in Shanghai.
This year’s theme, ‘Regional Cooperation in Asia and Global Economic Integration,’ comes as the global environment fragments more every day.
Safdar Parvez, ADB Country Director for the People’s Republic of China (PRC), highlighted that development banks aim to use the forum to develop partnerships that can support the transition to sustainable practices in the region.
Working together, there is significant potential for multilateral development banks (MDBs) and EXIM banks in Asia to enhance infrastructure connectivity and promote regional development. This could manifest in co-financing large-scale projects, knowledge partnerships, or developing innovative financial instruments through programs like the ADB’s Trade and Supply Chain Finance Program (TSCFP).
“To ensure that ADB and EXIM banks combine the best technical, financial, operational, and knowledge solutions, EXIM banks’ valuable development experience in the region will contribute meaningfully to jointly pursue climate and development solutions at scale,” said Parvez.
From a regional integration perspective, subregional programs – such as the Greater Mekong Subregion (GMS), Central Asia Regional Economic Cooperation (CAREC) and South Asia Subregional Economic Cooperation (SASEC) – are instrumental in improving trade policies and facilitating the regional integration required for sustainable growth.
Addressing the financial environment in Asia and the Pacific, Parvez pointed to the region’s generally balanced conditions, supported by declining inflation and policy rate cuts. However, he cautioned that elevated financial stability risks remain in some economies, necessitating constant monitoring.
“Climate-related physical and transition risks will challenge financial stability in developing Asia over the medium term,” Parvez said. “EXIM banks and MDBs, including ADB, can help build resilience to climate change and develop sustainable regional finance markets.”
The Forum specified commitment to greener, more inclusive, resilient, transparent, and socially responsible trade and supply chains as imperatives for the future of trade.
