The 1stTIWG meeting under India’s G20 Presidency is scheduled in Mumbai, from March 28th−30th, 2023. During this three-day Meeting, over 100 delegates from G20 member countries, invitee countries, regional groupings and international organizations will engage in deliberations to accelerate global trade and investments. On the first day, on March 28, a seminar on ‘Trade Finance’ will be held. The anchoring agencies for this seminar are India EXIM Bank and Export Credit Guarantee Corporation of India (ECGC).
Trade finance is essential for maintaining international trade flows and mitigating risks. Global trade finance involves a number of parties, including banks, trade finance companies, export credit agencies, insurers, importers and exporters. In 2020, $9 trillion of trade finance transactions were supported by major global banks, yet the trade finance gap is widening.
Micro, Small and Medium Enterprises (MSMEs) are disproportionately affected by the gap, and action-oriented solutions are needed to reduce it and make it accessible. This seminar will hold two sessions, first session will highlight the role of banks, financial institutions, development finance institutions and export credit agencies in closing the trade finance gap, and second session will delve into how digitalization and fintech solutions can improve access to trade finance.
