ADB Helps Strengthen Georgia's Trade Sector

The Asian Development Bank and two banks in Georgia have signed trade finance agreements that are expected to boost the country’s trade sector and its role as key trading center between Europe and Asia.

The agreements would help small and medium-sized enterprises gain more access to financing services, according to Lakshmi Venkatachalam, the bank’s vice president for private sector and cofinancing operations. She added that the deals are also expected to boost local employment.

The agreements are part of ADB’s Trade Finance Program, which supports international trade in the bank’s developing member countries by providing guarantees and loans through local banks.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.