Amid global trade challenges, Singapore is urged to establish an Export-Import (Exim) Bank, as proposed jointly by KPMG and SBF. Exim banks, common in major exporting nations, offer crucial financial support, including insurance and financing for overseas projects. Despite Singapore's absence in this arena, such institutions enhance competitiveness and aid small and medium-sized enterprises (SMEs) in accessing international markets. SBF's collaboration underscores the significance of addressing trade financing gaps to sustain economic growth amidst evolving global dynamics.

SBF CEO Mr Kok Ping Soon said SBF understands that small and medium-sized enterprises (SMEs) face challenges in acquiring trade and project financing in foreign markets, as many lack a proven track record or collaterals to support their loans. Financial institutions are also more cautious about extending credit/financing to SMEs involved in international business due to perceived risks such as trade tensions, inflation and global supply-chain disruptions amid this uncertain economic climate.

• The Straits Times, 28 February
• The Straits Times Online, 28 February