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Wednesday, July 18, 2012

ADB included Renminbi and the Rupee in its Trade Finance Programme

The Asian Development Bank will provide trade finance support to deals denominated in the Rupee and the Renminbi(China). The bank’s board of directors approved the inclusion of the Rrupee and the Renminbi in its Trade Finance Programme.

The ADB’s Trade Finance Programme fills market gaps for trade finance by providing guarantees and loans to banks to support trade. This programme has been used to cover only transactions denominated in dollar, yen and euro. The programme is active in 16 countries.