WT/WGTDF/W/98 /Rev.1  
30 July 2021 
(21-6018) Page: 1/4 
Working Group on Trade, Debt and Finance  Original:  French  
 
  
PROJECT TO DEVELOP A ROAD MAP OR WORK PROGRAMME FOR ISSUES  RELATING TO  
ACCESS TO TRADE FINANCE  FOR MICRO, SMALL AND MEDIUM -SIZED ENTERPRISES 
(MSMES)  IN THE CONTEXT OF COVID -19 
COMMUNICATION FROM CÔTE D'IVOIRE  
Revision  
Côte d'Ivoire submits this t ext proposal as a basis for discussion  with a view to the adoption of a 
work programme or road map in the context of the activities of the Working Group on Trade, Debt 
and Finance , and reserves the right to revise it or propose additional elements  and/or provisions . 
This proposal updates the proposal previously made in document WT/WGTDF/W/98, which was 
explained in document WT/WGTDF/W/98/Add.1. Th is updated version seeks  to incorporate into the 
proposal the comments made by many  other delegations.  
 
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1.1.  The aim of th is proposal is to enable  WTO Members to take all possible steps to consider  and/or 
propose means of facilitating the access  of micro, small and medium -sized enterprises (MSMEs) to 
trade finance . This should enable  MSMEs, particularly in developing countries and least developed 
countries (LDCs), to make progress in solving the problems they face regarding trade finance, which 
have intensified  as a result of COVID -19, in a context  of economic recovery du ring and after the 
pandemic.  
1.2.  Most developing countries and LDCs  are still facing significant  difficulties  regarding access  to 
trade  finance . These difficulties, which are major obstacles prevent ing MSMEs from seizing the trade 
opportunities provided  by the  WTO Agreements, have grown more serious as a result of COVID -19. 
1.3.  Access to finance has always been the main obstacle to growth for most MSMEs in developing 
countries and LDCs . In this regard, it should be noted that sub-Saharan Africa accounts for the 
highest  proportion of financially constrained SMEs in the world  (54%). The finance gap for the 
44 million  MSMEs in sub-Saharan Africa was estimated at US D 331 billion  in 2018.  In Africa, t he 
need f or trade finance alone  is estimated to be  over USD 80 billion.   
1.4.  It should be noted that the financial situation of MSMEs has deteriorated significantly as a result 
of the COVID -19 pandemic . Many MSMEs  are still feeling the immediate effects of COVID -19. They 
are facing  drastic reductions in revenue because of the fall in demand, with traditional sources of 
cash dr ying up . Furthermore, despite efforts to comply with the main banking standards , many SMEs 
are often denied  access.  
1.5.  The Working Group on Trade, Debt and Financ e (WGTDF) , in accordance with paragraph  36 of 
the Doha Ministerial Declaration (WT/MIN(01)/DEC/1 of 20 November 2001), is invited to explore 
concrete solutions that could be implemented to enable firms  in LDCs to have easier access to trade 
finance, especi ally small and medium -sized enterprises (SMEs) that form the vast majority of 
importers and exporters.  WT/WGTDF/W/ 98/Rev.1  
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  1.6.  At the forty -third meeting of the WGTDF, a large  majority of Members expressed  significant 
interest in, and effective support for , the submission contained in document WT/WGTDF/W/98  and 
presented in communication WT/WGTDF/W/98/Add.1, recognizing that the COVID -19 pandemic has 
led not only to  global economic divergence affecting international trade , but also to  a reduction in 
the supp ly of trade finance.  
1.7.  Emphasis has therefore been place d on, inter alia , the need to support initiatives that seek to 
reduce  trade finance gaps , and efforts made to advance the cause of MSMEs in international trade, 
as well as the need to improve access to trade finance for firms operating in developing countries 
and LDCs, all of which would contribute to the increased participation of these count ries in world 
trade.  
1.8.  The close links between trade promotion and access to trade finance, and the role that the 
WTO can play in this respect, have also been acknowledged.  
1.9.  In this context, it has been noted that it is very important to explore specific ways  and means 
of providing SMEs with better conditions for accessing trade finance. During discussions between 
WTO Members, almost all, if not all, Members expressed support for the exchange of information 
and good practices regarding a certain number of impo rtant aspects relating  to access to trade 
finance for firms. Specific reference was made to some of the issues that might be considered as 
part of such an exchange  (see below ). They concern the evolution  of the trade finance market, its 
instruments,  and the way in which trade finance has been incorporated into government 
programmes aimed at supporting enterprises during the pandemic, the bilateral technical assistance 
programmes of certain Members in this area, etc. We thank th e Members that have proposed these 
ideas and hope that the ideas  will be followed up by the submission and exchange of specific 
documents within the Working Group framework.  
1.10.  We believe that the Secretariat could support this process , provide  further assistance and 
organize trade financ e information updates , without prejudice to the entitlement  to technical 
assistance and other forms of support  available to developing countries at the WTO  under other 
mechanisms , with a view to building the trade capacities of such countries and ensuring their 
integration into international trade and value chains. We are not asking the Secretariat to take on 
any mission that it has  not already embarked on in  this area. Lastly, cooperation with other 
international organizations, ongoing now for many years , has been highlighted by the vast majority 
of delegations, and seems acceptable to them . 
1.11.  The recommendation to develop a road map or work programme has there fore been well 
received . 
1.12.  The adoption of the draft road map or work programme, as suggested in document 
WT/WGTDF/W/98/Add.1  and outlined  below , is also recommended : 
1.1  At the level of collaboration between Member States:  
• Exchange of information on the role t hat trade finance play s for suppliers and buyers, 
and on how supply and demand for these products has evolved ; 
• The impact of advanced technology on trade finance (artificial intelligence, blockchain, 
machine learning) . Information on how trade finance has been integrated into 
economic strategy during the pandemic (United States);  
• The sharing of  good practices and technical cooperation  to facilitate access to trade 
finance in LDCs  (Switzerland);  
• Experience -sharing among Members  and presentation of technical assistance (TA) and 
capacity -building provided by European actors (EU);  
• Experience -sharing among Members regarding what could be done during the 
COVID -19 pandemic in terms of sharing and exchanging information and good 
practi ces; WT/WGTDF/W/ 98/Rev.1  
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  • The need also for developing countries and LDCs  that have benefited from trade 
finance access programmes in the past to share their experiences , particular ly in terms 
of areas of satisfaction ; 
• Sharing of information on how best to mobilize resources f or trade finance in a country, 
including on how to improve the conditions of supply, i.e. how could  banks grant more 
letters of credit  (medium - and long -term) ? 
1.2  Assistance from the Secretariat  
The Secretariat can provide useful assistance in terms of  inform ation dissemination, analysis and 
expertise . It already provides technical assistance  support  in this area, for instance in certain trade 
policy courses, through an e -learning module. Without prejudice to the right of developing countries 
to request nation al workshops on trade finance -related issues, we propose that the Working Group 
envisage a more systematic approach, in keeping with existing resources for technical assistance 
and diagnos tics. 
• Technical assistance s upport (currently in Advanced Trade Poli cy Courses – ATPC); in 
Regional Trade Policy Courses (RTPC) upon request, existing e -learning module;  
• The possibility of national workshops upon request;  
• Diagnostics: integration of the trade finance analysis into the updates of the Diagnostic 
Trade Integration Study  upon demand.  
Certain Members (including those of the African group ) have requested that the Secretariat work 
with other relevant international organizations to examine the  technical areas related to enhancing 
MSMEs ' access to international trade finance.  
 
1.3  Other international organizations  
• Trade finance facilitation programmes currently managed by the International Finance 
Corporation (IFC), Asian Development Bank (ADB) , European Bank for Reconstruction 
and Development (EBRD),  Inter-American Development Bank (IDB  - Invest),  Islamic 
Trade Finance Corporation (ITFC),  African Development Bank  and African 
Export -Import Bank (Afreximbank) ; the IFC, ADB, EBRD and ITFC also provide 
finance -related capacity -building to client banks;  
 
• Organizations working together on trade finance and improving conformity and 
transparency (IFC, International Monetary Fund, Financial Stability Board and 
occasionally  the WTO ); 
 
• International Trade Centr e (ITC);  
 
• Proposed actions for improved access to trade finance;  
 
• ITC programme on access to finance and investment for MSMEs ( covers aspects 
such as  improving  the credit profile of MSMEs, guidance on appropriate sources 
of finance, and access to trade fin ance publications and tools; capacity -building 
for financial intermediaries to improve the  service they provide to MSMEs; 
partnership s with development finance institutions (DFIs) to establish  subsidies, 
guarantee funds and/or credit lines ; promotion of sustainable finance for MSME 
access to global value chains; support for MSMEs in ensuring eligibility for 
sustainable finance; training of financial intermediaries  to mobilize sustainable 
finance for MSMEs ). 
 
• OECD: to discuss the importance of legal certainty for promoting financial innovation.  
 WT/WGTDF/W/ 98/Rev.1  
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  1.4  Other development finance institutions  
We would like t he WTO to facilitate, for instance by means of additional information sessions, the 
dissemination of information on how exporters and importers, and the local institutions that finance 
their trade, may obtain  access to a Legal Entity Identifier . This is not a new mission for the WTO, 
but will simply ensure the dissemination  of information that is not widely available in low -income 
countries , through  the Organization . 
 
Trade finance guides (government guides such as those of the British Government in partnership 
with the ITC or the guide issued by the US International Trade Administration).  
 
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