FCI’s Chairwoman, Ms Daniela Bonzanini, took part in a panel discussion with fellow association chairs and executives at the EBRD Annual Meeting on Tuesday, 10 May. This annual event, which took place live in Marrakech, provided trade finance professionals with the opportunity to review and discuss current market challenges with leading industry specialists, regulators and representatives from associations at the local, national and international levels.
The EBRD highlighted the best industry practices and responses to the global Covid pandemic and took an in-depth look at trade finance development in the SEMED region. This panel included the likes of Hans-Joerg Krohn (Regional Head Financial Institutions CIS, Commerzbank AG), Martina Zimmerl (Head of Trade Finance, Raiffeisen Bank International AG), Sean Edwards (Chairman, International Trade & Forfaiting Association (ITFA)), Daniela Bonzanini, Eleonore Juliane Treu (Director of Trade Finance Week, ICC Austria) and was moderated by Rudolf Putz (Head of TFP, EBRD).
The panellists discussed the development of Trade Finance and Factoring in Eastern Europe & the CIS from each association’s view and experience. Daniela explained how factoring, receivables, and supply chain finance are growing together as more companies, including SMEs and economies, seek alternative trade financing tools to succeed through economic turmoil.
She highlighted how Factoring has increased over the years, seeing significant global growth in 2021 with 11%, which has not been seen in decades, while the European region witnessed an increase of 35%. In addition, she mentioned that Edifactoring (for cross-border, two-factor business) maintained its positive growth, seeing over 31% growth in 2021 with the European region growing at 27%. This was a confirmation of the fact that this tool is highly beneficial. Finally, she mentioned that FCI is now looking to facilitate its clients with finding their raw materials elsewhere due to the current war in Ukraine but that the markets in Poland and Romania are still growing steadily.
Talking on the point of education, Daniela explained that FCI has an extensive offering through the FCI Academy, including the Career path, which has been accredited by LIBF, as well as webinars, seminars and promotion conferences, giving FCI clients and participants information on how to initiate factoring divisions within their companies. She concluded by mentioning that considering factoring was beneficial during the pandemic, FCI remains hopeful that this growth will continue.
To watch the replay of this panel discussion, click here.