SUVA, May 29 (Xinhua) -- The Asian Development Bank (ADB) and HFC Bank signed a trade finance agreement on Monday, enabling ADB's Trade Finance Program to provide a credit guarantee facility and revolving credit facility that can support up to 4 million U.S. dollars of trade annually in Fiji.
The agreement was signed by ADB Regional Director for the Pacific Robert Jauncey, and HFC Bank's Deputy Chairman Vilash Chand.
"ADB is delighted to be partnering with HFC Bank, Fiji's only local bank, through the Trade Finance Program," said Steven Beck, head of Trade Finance at ADB.
"Through this facility, HFC Bank will be able to grow its trade finance operations and finance more importers and exporters, including small and medium-sized enterprises, to expand trade, growth and jobs in Fiji."
HFC Bank is the first bank in Fiji to join ADB's Trade Finance Program, and the fourth bank in the Pacific to join the program.
HFC Bank is a fully fledged commercial bank serving corporate customers, small and medium-sized enterprises, as well as consumer segment.
