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The Arab Trade Financing Program (ATFP) has approved 110 requests for financing diverse trade deals worth $ 160 million in the first quarter of 2010.
A report reviewing the Q1 activities was discussed today in the 82nd meeting of the ATFP board under the chairmanship of Dr. Jasim al Mannai, Chief Executive of the Abu Dhabi-based ATFP.
According to the report, the ATFP offered a total of $ 7.6 billion to national agencies since its was founded in 1991.
The meeting appointed new three national agencies to 195 the total number of its agencies by the end of March 2010.
The board also looked into the financial statements and performance of its investment portfolios for the first quarter of the year.
The Arab Trade Financing Program (ATFP) is a specialized financial institution, established by the Board of Governors of the Arab Monetary Fund (AMF). Its objective is to develop and promote trade among Arab countries and enhance the competitive ability of Arab exporters. This is achieved by providing refinancing in the form of lines of credit, to Arab exporters and importers, through national agencies appointed by monetary authorities in the Arab countries.
ATFP assists Arab firms in their export activities by providing their buyers in the Arab world with internationally competitive financing packages. In doing so, ATFP strengthens the position of competitive Arab firms vis a vis other competitors operating in the Arab markets.
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