Digital technologies can facilitate access to trade finance in Asia-Pacific region: Report

ISLAMABAD: (Ch Mudassar Iqbal):Financial technologies, such as block-chain and artificial intelligence, can enhance the efficiency and availability of trade finance, especially for small and medium-sized enterprises (SMEs) in the Asia and Pacific region, according to a report launched on Tuesday by the Asian Development Bank (ADB) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).

The Asia-Pacific Trade Facilitation Report 2019, highlights the need to address the largely unmet demand for trade finance globally, estimated at $1.5 trillion, of which 40% is from the region, according to a statement issued by ADB.