Maersk Trade Finance, the simplified digital trade finance solutions and a part of AP Moller – Maersk, announced its global loan disbursement projection of USD 500 million for the year 2019 with USD 200 million targets for India. The company disbursed a total of USD 0.7 billion globally till date since its inception in 2015, with over 150 million in India in the year 2018, a 53 per cent Y-o-Y increase as compared to 2017.
Vipul Sardana, Global Head of Maersk Trade Finance said “Indian SME sector continues to play a significant role in India's economic development. As the sector is gearing up for its digital transformation, the rapid technological advances are putting trade finance in the spotlight and playing a significant role in changing the way global supply-chains are managed and monitored.”
“While trade finance has been a catalyst for expansion, for most SMEs, access to funds has been restrictive due to strict collateral requirements and credit background checks. As digital trade finance develops an essential alternative, start-ups and SMEs will no longer be as reliant on banks as before,” he added.