ADB moves in Myanmar as trade finance hopes grow

Hopes of opening the Myanmar trade finance sector are growing, after the Asian Development Bank (ADB) issued its first guarantee in the country. As part of its Trade Finance Programme (TFP), the ADB guaranteed a letter of credit issued by Banca Popolare di Sondrio of Italy to local lender United Amara Bank (UAB), one of […]

ADB Trade Finance Program Marks Milestone with First Transaction in Myanmar

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) has issued its first guarantee for Myanmar, supporting the import of fertilizers from Italy. The guarantee was issued in favor of Banca Popolare di Sondrio in Italy in respect of the payment obligation of United Amara Bank (UAB), one of TFP’s local partner banks in Myanmar. […]

US eases Myanmar trade sanctions

US authorities have removed a ban on trade through ports and airports in Myanmar for six months, a move that should help galvanise the country’s incoming government. A landslide victory by the National League for Democracy, led by the iconic Aung San Suu Kyi, marked the first free polls in 25 years, and the party […]

Myanmar vote raises hopes for sanctions removal

As the National League for Democracy (NLD) looks poised to win Myanmar’s historic elections, western exporters hope that a democratic transition may bring further easing of the US sanctions regime. The first round of sanctions lifting occurred in 2012 after the military regime agreed to loosen its grip on power and establish a civilian parliament, […]