ADB to provide guarantee to NIB on trade finance

KARACHI: Asian Development Bank (ADB) will provide guarantees to NIB Bank Ltd on international trade finance that the conducts with foreign partner banks.

In this regard, NIB and ADB will sign an agreement on March 24, for providing trade finance guarantee facility.

Consequently, NIB's customers will enjoy greater access to trade finance through ADB's Trade Finance Program, allowing them to conduct more overseas trade.

ADB's Trade Finance Program works with over 200 partner banks to provide guarantees and loans to support international trade transactions.