Supply Chain financing’s picking up and BofA’s betting on it – NonSell.com

Supply Chain financing’s picking up and BofA’s betting on it


Sumary of Supply Chain financing’s picking up and BofA’s betting on it:

  • Bank of America, which globally lends nearly $30 billion under this head, has already doubled its lending in supply chain financing in India.
  • Globally we provide roughly $30 billion annually in liquidity through our Global Supply Chain Finance programmes, having double-digit annual growth as new programmes are added, and existing programmes grow, he said.
  • For example, the bank is part of a consortium with Marco Polo network thats creating a network of buyers and suppliers across key trade instruments utilising blockchain technology that can make it much easier to exchange trade information.
  • Bank of America (BofA) is focusing on supply chain financing amid accelerated demand caused by global disruptions, such as renewed Covid curbs in Chinas industrial clusters and the Russian invasion of Ukraine, with the latter upending normal schedules at multiple European manufacturing bases.
  • We have seen through the pandemic that companies with an established supply-chain financing programme.
  • Amid the geopolitical disruptions, Bank of America believes supply chain finance is picking pace as big corporates look to hedge them of such sudden turbulence.

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