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Banco Atlantico Europa joins Proparco’s Trade Finance Guarantee Program to increase confirmation capabilities in Africa
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Proparco’s trade finance guarantee program is expanding its network. Banco Atlantico Europa (BAE), a financial institution renowned for financing trade between Europe and Portuguese-speaking African markets, is joining the program as a confirming bank and will thus strengthen its activities in Africa thanks to Proparco’s network of issuing banks in sub-Saharan countries.
To further promote trade finance in Africa, Banco Atlantico Europa (BAE) will now benefit from Proparco’s network to provide its customers easier access to African markets, thereby supporting importers and exporters in developing countries. Already active on the continent, particularly in lusophone countries, BAE will strengthen its presence in other markets thanks to Proparco’s program, thereby expanding its footprint across sub-Saharan Africa.
José Carlos Burity, Executive Board Member: “We are pleased to join the Proparco´s Trade Finance Program. We believe that the partnership with Proparco is another important milestone achieved that will enable ATLANTICO Europa to access new markets for the Trade Finance business, while also leveraging cross-selling opportunities to expand our international client base.”
Emmanuel Haye, Deputy Head of Proparco’s Financial Institutions–Africa and the Middle East: “We are delighted to welcome Banco Atlantico Europa as a confirming bank joining Proparco’s Trade Finance guarantee program. This partnership will strengthen our network of partners in Portuguese-speaking African countries while extending its reach to other markets across the continent. It will help SMEs import the goods and raw materials they need to create local value on the continent.”