G-20 London Summit trade finance commitment

Countries: 
Event/initiative: 
Date of commitment: 
April 2009
Millennium Development Goal: 
Subtopic: 

Commitment

Ensure availability of at least $250 billion over the next two years to support trade finance.

Target

$250 billion

Progress

In the first year after the initiative, additional trade financing of $170 billion was mobilized. In 2008 and 2009 trade finance availability has tightened, but seems to have improved since then. Available evidence suggests that trade finance would deteriorate in second half of 2011 and 2012.

Gap

Low-income countries, especially those in sub-Saharan Africa, continue to face difficulties in accessing affordable trade finance.

Additionality

It is not clear how this relates to other financing commitments made to deal with the impact of the crisis.

Download the Summit Communique here [pdf]
Data source: 

MDG Gap Task Force