The EBRD has launched a new initiative to increase access to trade finance and trade-related advice for small and medium-sized enterprises (SMEs).
The trade support initiative, known as Trade Ready, will help SMEs involved in import and export activities to get the finance and know-how they need to strengthen their ability to trade and to grow.
The first countries to benefit from Trade Ready are Georgia and Serbia, with the Kyrgyz Republic to follow in 2019. Other countries will be added on a rolling basis.
Access to trade finance
Many SMEs are unaware of the benefits of trade finance products and how accessible they can be. Trade Ready helps small businesses understand how trade finance instruments offered by local banks can reduce the risks involved in foreign trade and free up working capital for growth investments.
This advisory support also shows SMEs how to improve their business practices so that they are better prepared to meet local banks’ requirements for trade finance products and are better placed to compete locally and internationally.
The EBRD also trains local consultants on how to offer small businesses dedicated trade finance advice long into the future.
SMEs represent a largely untapped reservoir of potential trade finance clients for local banks. So Trade Ready also works with these banks to help them tailor and expand their trade finance products to the needs of SMEs and market them more effectively, diversifying their trade finance portfolio in the process.
Find out more
For more information, please visit:Trade Ready: Overview
Many SMEs are unaware of the benefits of trade finance products and how accessible they can be.