While trade and finance are changing dramatically, trade finance is shifting more slowly. What does this mean for SMEs?
Mr. Beck has managed the exponential growth of ADB’s Trade Finance Program, and implemented its first supply chain finance business. Prior to joining ADB, he worked for the Canadian Imperial Bank of Commerce and was an advisor to the Canadian Minister of Finance. Mr. Beck played a key role in the start-up of the Black Sea Trade and Development Bank, and was a consultant for USAID in Southern Africa and for a start-up financial institution in Armenia. Mr. Beck is on the Advisory Board of the International Chamber of Commerce Banking Commission, and a member of the WTO Working Group for Trade Finance.
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GLEIF will be a critically important contribution to help realize many of the current developments in fintech, and to spur more growth in cross-border trade.
Public open trading windows, smart contracts, or government-issued e-currency are just a few examples of how digitization is changing how people trade.
2015 was already tough, and we're moving into the new year with few signs that trade will pick up – but our team is enthusiastic about tackling 2016 challenges.
The inclusion of an Argentine bank in ADB's Trade Finance Program is an important step toward realizing the potential for trade between Asia and Latin America.