EBRD Conference on Financial Crisis – London
As part of its response to the International Financial Crisis, the European Bank for Reconstruction and Development (EBRD) organised an international conference for its issuing banks and confirming banks to look at how various regions within its countries of operations were being affected by the financial turmoil in the international markets. Vincent O’Brien delivered a presentation on the ICC Survey on Trade Finance.
A major theme noted among almost all participants of the conference was the universal downward trend in volumes of trade being managed by banks around the world. The drying up of liquidity and lack of finance has had a disastrous effect in some countries.
The debate focused on actions that can be taken by the major stakeholder in trade and finance to provide a stimulus to trade, increase liquidity and promote risk sharing between commercial banks, the multilaterals as well as the export credit insurance agencies.