The USD 3.95 million portfolio guarantee granted by Proparco marks its first operation with the microfinance sector in Iraq. It testifies to its commitment to supporting the private sector in fragile countries and further reinforces its partnership with Vitas Group, a leading microfinance actor in the MENA region.

With this USD 13.8M loan, Proparco, the French Development Finance Institution, supports Ananta Huaxiang Limited (AHL), a subsidiary of Ananta Group in Bangladesh, to increase its sweater manufacturing capacity through the expansion of its production facility located in Narayanganj, Bangladesh. This operation will allow AHL to emerge as a large volume sweater manufacturer and strengthen its competitiveness in the international market.

The project aims to support the financing of imports of basic necessities in Burkina Faso through a EUR 10 million guarantee envelope on trade finance instruments issued by Vista Bank Burkina. Proparco and the Vista Group are thus strengthening their partnership, less than a month after the integration of the subsidiary in Guinea into the program.