ASX ANNOUNCEMENT (ASX:KSL) 11 MAY 2017
Kina Securities and Asian Development Bank Sign First Trade Finance Agreement in Papua New Guinea
Port Moresby, Papua New Guinea. 11 May 2017: Kina Securities Limited (KSL) today announced that it had become PNG’s first bank to sign a trade finance agreement with the Asian Development Bank (ADB). The deal will assist Kina’s local importing and exporting business customers by providing access to ADB’s Trade Finance Program (TFP).
The agreement will enable customers to access a credit guarantee facility that can support up to $4 million of trade annually in Papua New Guinea (PNG) to support their international transactions.
Download link to the copy of this announcement is below: