Philippine banks join ADB trade programme

Copying and distributing are prohibited without permission of the publisher

23 February 2010

The Asian Development Bank (ADB) has signed the first five Philippine banks to its Trade Finance Facilitation Programme (TFFP).

The Asian Development Bank (ADB) has signed the first five Philippine banks to its Trade Finance Facilitation Programme (TFFP).

Allied Banking Corporation, Development Bank of the Philippines, Metropolitan Bank and Trust Company, Philippine National Bank, and Rizal Commercial Banking Corp make up the five Philippine banks which officially joined the programme today.

"In the Philippines, small- and medium-sized firms employ around 77% of all those working in the...

You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.

Already have an account?

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Free trial

Taking a free trial will give you access to the current issue for two weeks (excluding some surveys and articles). Start your free trial today.

Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%