FCI’s regional directors continue to monitor key market, regulatory and industry developments shaping factoring, receivables finance and supply chain finance around the world. October’s regional snapshot highlights important progress across Africa, the Americas, Asia-Pacific, Central, Eastern and South-Eastern Europe, the Middle East and Western Europe, with developments ranging from new factoring legislation and regulatory initiatives to digital trade infrastructure, cross-border financing and greater access to working capital.
Africa
Across Africa, October saw further progress in strengthening the regulatory, institutional and risk infrastructure supporting factoring and receivables finance. In Algeria, the Bank of Algeria issued Instruction No. 09-2026, establishing practical requirements for banks and financial institutions undertaking factoring activities. The instruction complements regulations introduced in August and provides operational guidance on factoring agreements, receivables transfers, debtor assessment and risk management. The development represents an important step towards translating the country's factoring framework into operational financing solutions.
The Republic of Congo progressed discussions with the African Trade and Investment Development Insurance agency (ATIDI), following the country's ratification of the ATIDI agreement in August. Greater access to guarantees and risk-mitigation instruments could support increased SME financing and the development of non-recourse factoring across Central Africa.
Americas
Across the Americas, October highlighted the growing importance of digital invoicing, modernised payment infrastructure and evolving trade relationships. At the FEL Summit 2026 in Antigua, Guatemala, discussions focused on the use of electronic invoices as financial assets to improve SME liquidity and expand digital factoring. Tax authorities and industry representatives also examined opportunities for greater regional cooperation, digital interoperability, automation and fraud prevention as countries advance their electronic invoicing frameworks.
Cross-border payments also remain a priority, with financial institutions increasingly focusing on ISO 20022 standards, automation and improved access to local-currency settlement. These developments could support more efficient supplier onboarding, receivables financing and liquidity management across regional trade corridors.
In parallel, developments in international trade cooperation are creating new opportunities for Latin America and the Caribbean. Negotiations towards a broader Chile–India Comprehensive Economic Partnership Agreement continued, with particular attention to services, investment and critical minerals. Paraguay also joined the Pax Silica initiative in October, reinforcing cooperation on strategic supply chains, critical minerals and digital infrastructure. Together, these developments highlight the region's growing role in global trade networks and the importance of financial solutions capable of supporting increasingly diversified supply chains.
Asia-Pacific
In Asia-Pacific, October brought important developments in multilateral cooperation, supply chain finance and financial-sector investment. During the World Bank–IMF Annual Meetings in Bangkok, the World Trade Organization and multilateral development banks reviewed progress on their joint initiative to expand supply chain finance in developing economies. Annual direct financing by multilateral development banks has increased from approximately US$35 billion before the pandemic to US$65 billion in 2026, including around US$10 billion in supply chain finance for developing markets. Discussions focused on private-capital mobilisation, local-currency financing, innovation and capacity-building, with participating institutions reaffirming their commitment to strengthening SME access to trade-related finance through the existing Supply Chain Finance Task Force, which also engages industry organisations including FCI.
Further progress came through two supply chain finance facilities announced by IFC with Japan's Mizuho Bank and SMBC, totalling US$1.5 billion. The US$1 billion Mizuho risk-sharing facility is expected to support suppliers and distributors primarily across Asia-Pacific, while the separate US$500 million SMBC programme will expand access to working capital for businesses in emerging markets. Both initiatives demonstrate the growing role of risk-sharing arrangements and anchor-buyer financing in supporting SME participation in global supply chains.
In South Korea, financial institutions continued expanding productive finance, with ₩272.3 trillion provided through July 2026 and a five-year financing support plan expanded to ₩1,560 trillion. The measures reflect a broader policy emphasis on directing financial resources towards productive businesses, industrial development and long-term economic growth.
India also introduced important measures to strengthen access to trade and receivables finance. J.P. Morgan and the Asian Development Bank expanded their collaboration through a risk-sharing framework designed to support working-capital financing for Indian manufacturers, buyers and suppliers, including businesses operating in food, pharmaceuticals, electric vehicles and renewable energy.
Separately, India's Directorate General of Foreign Trade issued updated operational guidelines on 26 October for its export factoring interest support scheme under the Export Promotion Mission. The scheme provides eligible MSME exporters with a 2.75% interest subvention on factoring costs, subject to an annual ceiling of INR 5 million per exporter. The October amendments simplified application procedures by removing the requirement for prior registration through a Unique Identification Number and clarifying the claims process. This represents an important step in recognising export factoring as a dedicated financing instrument and encouraging its wider adoption among Indian exporters.
Central, Eastern and South-Eastern Europe
Across Central, Eastern and South-Eastern Europe, October brought further progress in strengthening the legal foundations for factoring, particularly in Georgia and Ukraine. In Georgia, preparations continued for the implementation of the country's first dedicated Law on Factoring, adopted earlier in 2026 and scheduled to enter into force on 1 January 2027. The National Bank of Georgia outlined ongoing work on regulatory requirements for factoring companies and platforms, including supervisory arrangements and supporting technological infrastructure. The legislation introduces a dedicated Factoring Registry, clearer provisions governing receivables assignments and a framework for electronic factoring platforms, aimed at improving transparency, legal certainty and access to working capital.
Ukraine also continued advancing implementation of its new Law on Factoring, which entered into force on 30 July 2026. The legislation establishes a comprehensive framework for factoring as a distinct financial service, recognising recourse and non-recourse structures, clarifying the assignment of existing and future monetary claims, and providing for an electronic register of receivables assignments. While the framework is expected to strengthen legal certainty and reduce double-assignment risks, operationalising the new registry remains an important priority. The reforms are particularly relevant as Ukrainian businesses seek additional liquidity solutions and financial instruments to support economic recovery.
Middle East
In the Middle East, Bahrain recorded an important development in trade finance risk management as the National Bank of Bahrain became the first banking partner in the country's Trade Finance Registry initiative. Developed by BENEFIT in collaboration with MonetaGo and Bahrain FinTech Bay, the registry enables participating financial institutions to verify invoices and identify potential duplicate financing or fraudulent transactions before providing funding. The initiative represents a significant step towards improving transparency, strengthening risk controls and creating greater confidence in receivables-based financing. As digital trade finance infrastructure develops across the region, shared verification mechanisms such as these could help financial institutions manage risks more effectively while supporting safer and more efficient access to working capital.
Western Europe
In Western Europe, October brought further progress towards more standardised and interoperable electronic invoicing systems. In the United Kingdom, the government published its e-invoicing implementation roadmap on 28 October, confirming plans for mandatory electronic VAT invoicing from April 2029, with Peppol selected as the core interoperability framework. The reform is expected to improve invoice processing, data quality and automation, creating opportunities for more efficient verification and financing of trade receivables.
In France, implementation of the mandatory B2B e-invoicing framework continued following the introduction of its first phase in September. Large and intermediate-sized companies are now required to issue electronic invoices, while all businesses must be able to receive them. The requirement will extend to smaller businesses in September 2027. For the factoring industry, wider adoption of structured electronic invoices represents an important opportunity to improve data reliability, streamline receivables management and strengthen integration between invoicing systems and finance providers.
Together, these developments reflect Europe's continued transition towards a more connected digital invoicing environment, with potential long-term benefits for factoring, receivables finance and cross-border trade.
October's developments illustrate the continued evolution of receivables finance across global markets, with legal reform, digitalisation, risk mitigation and access to working capital remaining central priorities. From dedicated factoring legislation and new financing initiatives to electronic invoicing and digital verification systems, the focus is increasingly on creating the conditions for receivables finance to operate more efficiently and at greater scale. FCI will continue to follow these developments closely and support its members in navigating the changing global factoring and receivables finance landscape.