CaixaBank joins Proparco’s trade finance program to strengthen trade flows in Africa
published on 18 March 2025
Proparco is proud to welcome CaixaBank as the first Spanish bank to join the Trade Finance Guarantee Programme as a confirming bank, reinforcing efforts to bridge Africa’s trade finance gap. This partnership will strengthen access to essential goods and materials across the continent by facilitating trade flows between African and international banks.
CaixaBank stands as a leading bank in Spain, and has extensive experience in trade finance through its international network and partnerships with over 1,600 correspondent banks. In 2024, it financed over US$3.5 billion for 89 banks in 33 countries under similar programs. However, Africa accounted for a small part of this volume, highlighting significant growth potential in the region.
By joining this initiative, CaixaBank will leverage its global expertise and extensive banking network to support African economies. This partnership will enhance CaixaBank’s capacity to confirm transactions from issuing banks within Proparco’s network thanks its trade finance program.
Trade finance is a critical tool for sustainable economic development in Africa, where businesses and SMEs in particular, often face barriers in accessing financing for imports and exports. Through this initiative, Proparco acts as a guarantor between issuing banks in Africa and confirming banks worldwide, securing transactions that are essential for food security, industrial growth, and economic resilience.
With a strong presence in international trade finance, CaixaBank’s strategy aligns with Proparco’s mission to facilitate sustainable economic growth in Africa by strengthening access to trade finance solutions. The collaboration will increase trade volumes and enhance financing opportunities for African businesses, particularly SMEs, while promoting cross-border trade efficiency and financial inclusion.
Emmanuel Haye, Deputy Head of Proparco’s Financial Institutions – Africa and Middle East: “We are very pleased to welcome CaixaBank as a confirming bank in Spain joining Proparco’s Trade Finance guarantee program. These guarantees facilitate the import of goods and raw materials that are essential for SMEs to create local value on the African continent, a key issue in developing countries.”
Felipe Oriol , Global Head of Multilaterals and Financial Institutions at CaixaBank : « CaixaBank, true to its commitment to stay close to its customers, is proud to join this program, which will allow us to grow our international business and, collaborating with Proparco, contribute to economic and social progress facilitating financing and growth of international trade, especially in the African continent”.
This collaboration underscores Proparco’s commitment to addressing Africa’s trade finance shortfall and strengthening the continent’s participation in global markets.
