Standard Chartered, an international cross-border bank, and British International Investment (BII), the United Kingdom’s development finance institution (DFI) and impact investor, have signed a $350 million risk participation agreement.
This facility aims to bolster the trade finance needs of SMEs and corporates across Africa and South Asia and to boost economic growth in these regions.
Since the initial agreement in 2013, Standard Chartered and British International Investment have enabled more than $10 billion in trade volumes in more than 10 countries across Africa and South Asia, including Kenya, Tanzania, Nigeria, Bangladesh, Pakistan and Nepal. In the past year, approximately $450 million of trade has been supported via this facility.
The renewed facility will cover an expanded number of dynamic markets and seek to provide needed support in trade and economic growth in Africa and South Asia by further enabling trade finance access and liquidity across St
