Sri Lanka-based HNB Finance has launched a new Supply Chain Financing scheme to promptly meet the financial needs of business ventures resulting from the stringent market conditions of a pandemic-stricken economy. This financing scheme is a revolving facility that will optimize and sustain the uninterrupted supply chain process and cash flows from buyers and suppliers. This carefully designed financing facility allows manufacturers to buy from suppliers at a higher discount as payment for material is promptly settled by HNB Finance, which steps in and absorbs the credit period and pays the supplier immediately.


World Trade Board launches plan to empower SMEs through trade and finance
BY ZAWYA
- 15/11/23
MSMEs make up around 90% of businesses globally, but accounted for just 23% of applications for trade finance in 2020. Despite their low representation, these smaller firms made up 40% of rejected trade finance applications. This mismatch between demand for and supply of trade financing known as the trade finance gap, is growing rapidly - from an estimated $1.5 trillion in 2018 to $2 trillion in 2022, and shows no signs of slowing.