Asian Development Bank

A lot of these ambassadors from Washington back in the 90s when they resigned or they finished their tour, usually if it was Japan or Great Britain or America, one of the big places to, it was on your last part of the resume, right? And then when you go back home, you're pretty much, you're on the board of Caterpillar or John Deere in the home country, right? Or a special advisor at a fee of $50,000 a year for two meetings, you

know? Yeah, well, and also, you know, a lot of the people high up in organizations like the World Bank and the Asian Development Bank, the Inter-American Development Bank, the United Nations, You know, they come from very high positions in these governments around the world.

And they're from the rich family.

So many of these programs are really about helping the rich become richer, the powerful become more powerful.

Simultaneously, access to trade finance remains constrained.

The Asian Development Bank estimates the global trade finance gap at $2.5 trillion, while the African Development Bank estimates unmet trade finance demand in Africa at between $74 billion and $92 billion.

The partnership also supports ADI Foundation's work with the African Continental Free Trade Area Secretariat to develop digital trade infrastructure across Africa, including infrastructure designed to improve verification of trade documentation and expand businesses' ability to access financing against inventory and other certified assets.

Example in practice.

All the other multilaterals are now following suit.

So the Inter-American Development Bank and the Asian Development Bank have also now removed nuclear prohibitions.

The African Development Bank is the one outlier.

I would expect that to change at some point in the near future.

When there's bank financing, they require us to follow the IFC, International Finance Corporation, performance standards, or a particular bank's environment, social and governance standards.

It might be World Bank, it might be Asian Development Bank, and so forth.

So traditional diligence is really around local regulations and measuring that site against those local regulations.

So more and more what we're seeing now and is being driven, you'll measure it against those local regulations, but you're also measuring it against these fixed international benchmarks.

There is no one single answer that one can pinpoint.

But basically, we have not only high-tech industry, but we have capital construction under World Bank, Asian Development Bank, et cetera, that are also lagging.

Everything is lagging.

That's right.