Standard Chartered and OFID expand trade programme

The programme is expanded to $1 billion to support emerging market trade flows.

Standard Chartered Bank and the OPEC Fund for International Development OFID, a multilateral development financial institution, have expanded their Trade Finance Portfolio Risk Participation Programme from $500 million to $1 billion. The programme was initially signed in 2009 to help encourage more trade financing in emerging and developing countries.

The original programme generated an estimated incremental trade of $2 billion annually and the renewed agreement is expected to generate incremental trade volume up to...

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