Business / Markets

Yuan included in Trade Finance Program

By Wang Xiaotian (chinadaily.com.cn) Updated: 2012-07-18 16:21

The likelihood that yuan will be used more widely in settling intra-regional transactions has prompted the Asian Development Bank to include the currency in its Trade Finance Program.

ADB's Board of Directors on Tuesday approved the inclusion of the renminbi and Indian rupee in the program, which "fills market gaps for trade finance by providing guarantees and loans to banks to support trade", it said.

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