To better support growing small businesses, the U.S. Small Business Administration (SBA) recently announced a new pilot loan program that intends to help close the trade finance gap experienced by SME exporters. The 7(a) Working Capital Pilot (WCP) is the SBA’s first new loan program introduced in more than a decade and will be able to support lines of credit up to $5 million. 

British International Investment (BII), the UK’s development finance institution, has announced plans to provide up to £30 million to bolster Ukraine’s international trade amid ongoing economic challenges.

The Prudential Regulation Authority (PRA) has released its second policy statement on the implementation of Basel 3.1, set to take effect in January 2025.

Deepesh Patel, Editor at Trade Finance Global, was joined by Sian Aspinall, Group CEO, BPL Global Board Member, Insurance Committee at the International Trade and Forfaiting Association (ITFA), at ITFA’s 50th annual conference in Cyprus.

A pilot program led by the Asian Development Bank (ADB) has demonstrated a promising new approach to combating trade-based money laundering (TBML). This vast and underreported financial crime enables the flow of illicit funds through the global trade system.

At the International Trade and Forfaiting Association’s (ITFA) 50th annual conference, Deepesh Patel, Editorial Director at Trade Finance Global, spoke to Marcus Miller, Managing Director, Global Lenders Solutions Group Leader, Credit Specialties at Marsh, about the OTD model and responsiveness to regulation.

At ITFA’s 50th annual conference in Cyprus, Rebecca Harding, Director at Rebeccanomics, explained a few reasons to Deepesh Patel, Editorial Director at Trade Finance Global.

The 2024 CGI and BAFT Trade Technology Survey provides insights into how financial institutions navigate these changes and plan for the future. The survey reveals the strategic priorities and challenges which banks face and offers a comprehensive view of their adaptation strategies. 

Recent leadership changes or upcoming elections in Nigeria, Ghana, and South Africa will impact economic and trade policy. This could be a tipping point for these countries, either strengthening their trade position or creating new challenges.

After 17 years of negotiating its ascension, Comoros has become the 165th member of the World Trade Organization (WTO) as of 21 August 2024. Comoros also accepted the WTO Agreement on Fisheries Subsidies, bringing the total number of acceptances to 82.