Table of Contents
Key Points
- Standard Chartered and British International Investment (BII) have renewed a $350-million risk participation agreement to support trade finance in Africa and South Asia.
- Since 2013, this partnership has facilitated over $10 billion in trade across more than ten countries, including Nigeria, Kenya, and Pakistan.
- The renewed facility aims to enhance access to trade finance for SMEs and corporates, promoting economic growth in these regions.
Standard Chartered and British International Investment (BII) have renewed their three hundred fifty-million-dollar risk-participation agreement. Initially established in 2013, this collaboration has facilitated over ten billion dollars in trade across more than ten countries, including Nigeria, Kenya, Tanzania, Bangladesh, Pakistan, and Nepal. Recent reports from Billionaires Africa indicate that StanChart Kenya, led by Kariuki Ngari, earned nine million eight hundred thousand dollars from sustainable finance in 2023, underscoring the institution’s expanding role in green project financing.
Expanding support for diverse sectors
The renewed facility will reach additional dynamic markets, bolstering trade and economic growth by enhancing access to trade finance and liquidity through Standard Chartered’s global network. It will support key sectors, including food, agriculture, healthcare, industrials, metals, infrastructure, electronics, technology, telecom, and mobility.
Aligned with the United Nations’ Sustainable Development Goals (SDGs), particularly SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry Innovation and Infrastructure), and SDG 12 (Responsible Consumption and Production), this initiative strengthens economic growth and opens new opportunities across these regions.
Statements from key stakeholders
UK Development Minister Anneliese Dodds expressed strong support, remarking, “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.”
Nick O’Donohoe, CEO of BII, emphasized the facility’s longstanding impact, particularly in empowering businesses and supporting the essential flow of goods, including food and healthcare. Saif Malik, CEO, UK and Head of Banking & Coverage, UK, Standard Chartered, reiterated the bank’s dedication to connecting high-potential businesses with vital capital, adding, “This strategic agreement aligns with our vision of supporting corporations that drive future innovation and connect the world’s most dynamic markets in trade, investment, and capital flows.”
The renewed partnership between Standard Chartered and BII reinforces their shared mission to promote economic resilience and growth across Africa and South Asia, with a specific focus on enabling small and medium-sized enterprises and corporates to secure the trade finance necessary to compete globally.
