The latest survey by the Asian Development Bank (ADB) on Tuesday said the global trade finance gap surged to a record $2.5 trillion in 2022 from $1.7 trillion two years earlier on the back of rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reducing the capacity of banks to deliver trade financing. The trade finance gap refers to the difference between the money businesses need for international trade and the money they can actually get from banks and other financial sources. This gap could be a barrier for businesses, especially small ones, trying to expand into global markets. The survey included data from 137 banks and 185 companies from around 50 countries. The survey also noted that the majority of banks and companies in the survey believed that ESG alignment could potentially help reduce the trade financing gap.