Asian Development Bank, International Trade Centre partner to build skills, increase capital of small businesses

(Geneva/Manila) – Small businesses in the Asia-Pacific are set to benefit from capacity building and access to capital, enabling them to grow and sell in international markets, with the signing of a memorandum of understanding by the Asian Development Bank (ADB) and the International Trade Centre (ITC).

The agreement signed at ITC headquarters in Geneva on 9 October builds on nearly a decade-long partnership between the two organizations and will focus on seven core areas: trade facilitation; trade policy; trade finance; trade and climate change, and environmental sustainability; digital and paperless trade; private sector development, with a focus on supporting small businesses; and women’s economic empowerment.

Expanding the partnership

This latest agreement is an expansion of ongoing collaboration between the institutions, which has focused on economically empowering women and supporting small businesses to become more sustainable, including through sustainability certifications.

On supporting women entrepreneurs: With an ADB grant, the ITC SheTrades team is making online training modules tailored to the needs of women-led businesses available in Bengali, Russian and Vietnamese, and piloting gender-lens investing trainings for financial institutions across Asia, to champion women-led businesses in the region.

On supporting small businesses to become more sustainable: With an ADB grant, the ITC Trade for Sustainable Development team is developing a standards navigation toolkit for small businesses in Bangladesh, Nepal, Sri Lanka and Viet Nam, so they can better understand sustainability standards, assess their own readiness for certification, and act on sustainable practices.

ITC Executive Director Pamela Coke-Hamilton said: “Our expanding partnership with ADB means more small businesses in the Asia-Pacific will gain the capacity and access to capital they need grow their businesses and trade, so they can earn more, create jobs and invest in their families and communities. We look forward to growing our collaboration with ADB.”

Bruce Gosper, ADB Vice-President of Administration and Corporate Management said: “ADB and ITC share a common goal to promote inclusive, resilient, and sustainable growth in ADB’s developing member countries through trade and private sector development. As the climate bank for Asia and the Pacific, and in line with the goals of ITC, ADB looks forward to enhancing our partnership to advance sustainable and inclusive development in our developing member countries.”

Notes to the Editor

About the International Trade Centre - The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals.

For more information, visit www.intracen.org.

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Media contact

Susanna Pak
Senior Strategic Communications Officer
International Trade Centre
E: pak [at] intracen.org
T: +41 22 730 0651