The agreement is expected to catalyze economic growth in these regions by increasing access to trade finance and liquidity.

This collaboration builds on a decade-long partnership between the two organizations.

Since the inception of their agreement in 2013, Standard Chartered and BII have facilitated over $10 billion in trade volumes across more than 10 countries, including Kenya, Tanzania, Nigeria, Bangladesh, Pakistan, and Nepal.

In the past year alone, the facility has supported approximately $450 million in trade.

The renewed agreement expands its scope to cover additional dynamic markets while focusing on key sectors such as agriculture, healthcare, technology, industrials, and infrastructure.

By addressing the global trade finance gap, this partnership aims to provide critical resources to businesses across diverse industries, promoting trade and economic transformation in these regions.

This initiative aligns with the United Nations’ Sustainable Development Goals (SDGs), particularly Decent Work and Economic Growth (SDG 8), Industry, Innovation, and Infrastructure (SDG 9), and Responsible Consumption and Production (SDG 12).

Commenting on the renewed partnership, UK Development Minister Anneliese Dodds emphasized its importance:

“I am delighted to see BII and Standard Chartered renew their facility to deliver trade finance throughout Africa and South Asia. This is an important partnership that will support SMEs and corporates to grow and deliver critical goods and services. Trade plays an important role in economic transformation, and this risk-sharing facility demonstrates how BII can work with financial institutions to support our shared development objectives.”

Nick O’Donohoe, CEO of BII, highlighted the significant impact of the partnership:

“We are proud of the positive impact that this long-standing trade finance facility with Standard Chartered has had in Africa and South Asia. By enabling over $10 billion in trade volumes, the facility continues to empower businesses and facilitate the vital flow of essential goods and services including food and healthcare. This is pivotal in supporting economic growth and creating new opportunities in these regions. It is also a step closer to narrowing the global trade finance gap.”

Saif Malik, CEO of Standard Chartered UK, underscored the bank’s commitment to driving global trade:

“As a leading international banking group, we play a vital role in enhancing access to the capital and liquidity that is essential for global trade. This strategic agreement will provide significant support to businesses with high potential but constrained access to finance. It aligns with our vision of connecting the world’s most dynamic markets in trade, investment, and capital flows.”

This renewed partnership reaffirms both organizations’ commitment to fostering sustainable economic growth, supporting SMEs, and delivering critical goods and services across Africa and South Asia.