Samoa Commercial Bank has received for the fifth time the "Leading Partner Bank in the Pacific" award under the Asian Development Bank's Trade and Supply Chain Finance program. 

The announcement was made at the Asian Development Bank (A.D.B.) Trade and Supply Chain Finance Program (TSCFP) 9^th Annual Awards and Partners Dinner held in Singapore early this month at the Jen Singapore Tanglin by Shangri-La, says a statement released by the S.C.B. on Saturday.

The awards recognised leading partner banks’ contribution to supporting trade in Asia and the Pacific. A total of 25 Banks received awards at the ceremony with Samoa's S.C.B. taking the “Leading Partner Bank in the Pacific” award. Other Banks included ArmeconomBank in Armenia, City Bank Limited in Bangladesh and TBC Bank in Georgia to mention a few.

Commenting on the award, the S.C.B. Managing Director, Lemalu Ray Ah Liki said receiving recognition under the A.D.B. program as a leading bank in the Pacific for the fifth time was an honour and a "significant achievement" for the local Samoan bank. 

"I commend our staff who have been diligent in promoting trade finance to our clients. I want to thank ADB and most importantly our clients for their continued support. SCB will continue to promote the program and provide financial support to companies engaged in import and export activities," he said. 

TSCFP provides guarantees and loans to over 200 partner banks to support trade. Backed by ADB’s AAA credit rating, the program works with over 200 partner banks to provide companies with the financial support they need to engage in import and export activities. 

According to the ADB website, the regional development bank's Trade and Supply Chain Finance Program empowers countries to meet the Sustainable Development Goals by closing market gaps through guarantees, loans, and knowledge products. Since 2009, the TSCFP has supported $57 billion in trade across 45,510 transactions (60% SME-related)