Today the International Chamber of Commerce (ICC) with its 45 million global members, announced a new advisory group that aims to tackle a potential trade finance gap as a result of COVID-19.
Despite early actions by banks and public bodies, there are signs of strain. The task force is co-chaired by Victor Fung of Hong Kong’s Fung Group and Marcus Wallenberg of SEB. Other big names include the heads of McKinsey, HSBC and commodities firm Trafigura.
The ICC has been at the forefront of digitalizing trade and trade finance and tackling COVID-19. It’s also home to the Digital Standards Initiative (DSI) for enabling interoperability between different blockchain ecosystems and other technologies.
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