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At the European Bank for Reconstruction and Development (EBRD), trade facilitation is about more than just guarantees and trade loans. It’s about enabling economies in transition to participate fully in global commerce, particularly in the face of volatility, uncertainty, and disruption.
Trade Treasury Payments (TTP) Editor-in-Chief Deepesh Patel sat down with Shona Tatchell, Director of the Trade Facilitation Programme (TFP) at EBRD, to discuss how the institution is approaching the turbulent geopolitical environment while pushing forward on digitalisation and sustainability.
Balancing business as usual with long-term transformation
Deepesh Patel (DP): Shona, it’s great to have you back. When we last spoke, you were just taking the reins of the Trade Facilitation Programme. Since then, we’ve seen an eventful year, marked by geopolitical instability and economic uncertainty. How do you manage the day-to-day work of the TFP – guarantees and trade loans – while also tackling these broader challenges?
Shona Tatchell (ST): It’s certainly been a dynamic year. When I first introduced myself in Yerevan, I said our focus would be on digitalisation and sustainability, and we’ve truly doubled down on both fronts. But it’s worth remembering that the TFP itself was created in turbulent times. The EBRD was founded in the wake of the fall of the Berlin Wall, with the aim of helping post-Soviet countries transition to open market economies. The TFP was born to support that mission—helping local banks evolve into private sector institutions capable of participating in global trade.
Building momentum for digital trade finance
DP: You’ve long been an advocate for digitalisation in trade. Over the past year, we’ve seen the EBRD active on multiple fronts – from legal reform to adoption of the Model Law on Electronic Transferable Records (MLETR). How are you coordinating this digital push across the bank?
ST: I’ve been working in trade digitalisation for years, so I was genuinely excited to see just how many teams at EBRD are already involved in this agenda. It’s not just trade finance. Our Sustainable Infrastructure group is supporting projects like port and airport development, and single customs windows. The Digital Hub works with tech firms and clients to enable digital transformation. Our SME team is helping small businesses adapt, while the Legal Transition and Capital & Financial Markets divisions are engaging regulators to lay the legal foundations for digital trade.
From the TFP side, we’ve focused on working directly with our partner banks, helping them understand the opportunities through advisory, consulting, and training. What’s really helped accelerate progress is building a network across all these internal teams so we’re aligned in our efforts. Our legal team has played a crucial role, particularly in countries like Morocco, Turkey, and Egypt, where we’ve brought together public and private sector actors to highlight the benefits of implementing MLETR and other reforms. The aim is to create “digital corridors” with the right regulatory, technical, and financial support in place.
Embedding sustainability in trade flows
DP: Compared to digitalisation, the media has been relatively quiet about sustainability in trade this year. What’s happening behind the scenes? Is the TFP making headway in helping banks and corporates integrate ESG criteria into day-to-day transactions?
ST: Absolutely. In fact, just two weeks ago, our board and shareholders approved EBRD’s new strategic framework for the next five years. It’s built around three core pillars: green finance, human capital, and governance. That’s environmental, social, and governance (ESG) at the heart of everything we do. These pillars are supported by key enablers: digitalisation and mobilisation of private capital.
So ESG hasn’t fallen off the agenda, far from it. It’s still fundamental to how we operate. We’re seeing real, concrete examples of green and sustainable finance deals coming through. And importantly, these deals make commercial sense. We’re also seeing growing momentum around digitally enabled green finance, particularly in the middle corridor – from Mongolia to Morocco – where we’re supporting the development of new digital and sustainable trade routes.
DP: That’s a powerful message: ESG is here to stay, and the commercial case is clearer than ever. Shona, thank you again for joining us.
Shona Tatchell: Thank you, Deepesh. It’s always a pleasure.
Key Topics
- The evolving role of digitalisation in global trade finance
- The EBRD Trade Facilitation Programme and its support for partner banks
- Adoption of the Model Law on Electronic Transferable Records (MLETR) and legal reform
- Integrating sustainability and ESG considerations into trade finance
- Collaboration between regulators, financial institutions and technology providers
Key Insights
Expert Analysis
Shona Tatchell, Director of the Trade Facilitation Programme at the European Bank for Reconstruction and Development (EBRD), explains how the institution is advancing trade finance through a combination of digitalisation, sustainability initiatives and cross institutional collaboration. Speaking with Dipesh Patel, Editor at Trade Treasury Payments, Tatchell reflected on the challenges of managing core trade finance activities in a year marked by geopolitical tension and market volatility. While uncertainty has affected many areas of global trade, the EBRD has continued to expand its efforts around digital trade and sustainable finance. The Trade Facilitation Programme itself has its roots in periods of economic transition. Created to support the development of financial institutions in post Soviet economies following the fall of the Berlin Wall, the programme was designed to help banks integrate into the global trade finance ecosystem and support the growth of open market economies. Today, that mandate continues through initiatives focused on digital trade infrastructure. Tatchell highlights the increasing role of legal reform, particularly the adoption of the Model Law on Electronic Transferable Records (MLETR), which provides the legal basis for electronic trade documents. Through partnerships with regulators, governments and financial institutions in markets such as Morocco, Turkey and Egypt, the EBRD is helping build the foundations for fully digital trade corridors. Digitalisation efforts extend across the organisation, with teams working on port development, customs systems, SME digital capabilities and regulatory frameworks. By connecting these initiatives across departments, the EBRD aims to create a coordinated ecosystem that supports the wider digital transformation of trade. At the same time, sustainability remains a core strategic focus. The EBRD’s five year framework continues to prioritise environmental transition, human capital development and strong governance. These priorities sit alongside digitalisation and private capital mobilisation as key enablers of future growth. Together, these initiatives reflect a broader shift within trade finance towards more resilient, transparent and sustainable systems that can support economic development across emerging markets.— Shona Tatchell
Key Findings
- Digital trade initiatives at EBRD involve multiple departments working together across infrastructure, legal, technology and financial teams.
- Legal reform and regulatory alignment are key requirements for the adoption of electronic trade documentation.
- SMEs and local banks require advisory support and training to successfully adopt digital trade systems.
- Sustainability objectives are becoming increasingly embedded in trade finance structures.
- The Trade Facilitation Programme continues to play an important role in strengthening financial institutions across emerging markets.
Implications
- Expanded digital infrastructure could significantly improve the efficiency of cross border trade.
- Adoption of MLETR and similar legal frameworks will allow countries to move towards fully digital trade documentation.
- Financial institutions will need to invest in technology and training to remain competitive in the digital trade landscape.
- ESG considerations are likely to influence how future trade finance deals are structured and financed.
- Greater cooperation between public institutions and the private sector will be essential in developing digital trade corridors.
Key Takeaways
- Digitalisation is increasingly central to improving the efficiency and transparency of trade finance.
- Strong collaboration between banks, regulators and international institutions is essential to modernising trade infrastructure.
- Sustainability and ESG principles continue to shape long term financial strategies.
- Legal frameworks such as MLETR are enabling the transition towards paperless trade.
- Trade facilitation programmes remain critical in supporting markets during periods of geopolitical uncertainty.
