StanChart and ADB team up for trade with Pakistan

Standard Chartered and the ADB offer innovative political risk guarantees for trade finance with Pakistan.

In a deal showing how the public and private sectors can work together in the financial arena, Standard Chartered and the ADB have put together an innovative political risk guarantee package for trade finance with Pakistan.

Under the agreement, the ADB will guarantee the political risks associated with trade financing for companies that export to Pakistan. Standard Chartered is the facility agent for the package, which is worth $150 million over the next six years.

The ADB will guarantee the payment to international banks by Pakistani banks that confirm letters of credit LCs, if the Pakistani banks cannot make the payments due to certain political conditions. These include foreign exchange...

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