An estimated $300m of incremental trade finance will be made available over a three-year period to international banks, through the Commonwealth Small States Trade Finance Facility agreement.
Banks participating in the scheme will receive credit enhancement support through an innovative blended finance programme developed by the Commonwealth Secretariat and supported by India, Sri Lanka, Mauritius and Malta.
Minister for Foreign Affairs and Trade Promotion, Carmelo Abela signed the agreement on behalf of Malta at the Commonwealth Heads of Government Meeting in London.
The agreement is the product of five years of work aimed at helping Commonwealth small states get access to global markets.