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trade finance coris bank proparco burkina faso
The project consists in the granting of a €30 million guarantee package for trade finance instruments to Coris Bank International SA, the leading bank in Burkina Faso and one of the most important banks in the WAEMU zone. This line of credit, with a maturity of 2 years, is intended to support the financing of imports of essential goods and investments in Burkina Faso.

Coris Bank International SA (CBI SA) is the main subsidiary of the CORIS Group, a banking group with a pan-African vision which aims to be the reference bank for the support of SMEs/SMIs in Africa. CBI SA has the largest network of branches in Burkina Faso with more than 900,000 clients, making it a major player in the Burkinabe banking system. The bank is also very active in financing the country's imports.

This 2-year facility granted by Proparco will enable Coris Bank International SA to issue trade finance instruments for an amount of up to €30M, with a guarantee from AFD Group of up to 100%. 

In addition to supporting the bank on international markets, the facility aims to encourage foreign banks to engage in trade finance operations with Coris Bank International and its local clients, thereby promoting the development of international trade by facilitating the import of essential goods and improving access to consumer products, industrial and medical equipment and materials.

According to Sébastien Fleury, Director of Investments in Complex Environments at Proparco: "This operation by Proparco, made possible by the Choose Africa initiative, will support Coris Bank, the main bank in Burkina Faso, which is very active in supporting SMEs and financing the country's imports. The project aims to increase the bank's financing capacity and thus enable local economic actors to benefit from new sources of financing.

For Diakarya Ouattara, Managing Director of Coris Bank International, "this Trade Finance line will strengthen the Bank's support capacity, thereby improving local companies' access to financing and their competitiveness in international trade.