CaixaBank and IFC (World Bank Group) gather over 300 representatives of the international trade finance sector in Barcelona

• In his opening remarks at the event, the CEO of CaixaBank, Gonzalo Gortázar, noted the crucial role that the financial sector plays in facilitating financing and growth of international trade
• In addition, CaixaBank was recognised by IFC as the ‘Best Confirming Bank 2024’ for its performance in the confirmation and financing of international trade operations worldwide.

CaixaBank and the International Finance Corporation (IFC), a member of the World Bank Group, gathered in Barcelona over 300 representatives of the international trade finance sector. The Global Trade Partner Meeting, which was held from 7 to 9 May in CaixaBank's corporate building in Barcelona, marks the 20th anniversary of the entry of IFC, the leading multilateral financing institution dedicated exclusively to the private sector in developing countries, into global trade finance operations.

The gathering, held for the first time since 2016, provided a meeting point for representatives of, among others, the issuing and confirming banks from all over the world that are part of IFC’s Global Trade Finance Program (GTFP). During these days, participants at the event were able to attend conferences, share experiences and learn from the best practices in the global banking sector to deal with the challenges facing the industry, such as climate change, the food crisis or high inflation. 

The opening event brought together Gonzalo Gortazar, CaixaBank's CEO; Mohamed Gouled, Vice President of Industries at IFC; and Nathalie Louat, Global Director of Trade and Supply Chain Finance at IFC.

Gonzalo Gortazar has highlighted that "meetings of this magnitude helps us to emphasize the crucial role that the financial sector plays in facilitating financing and growth of international trade" and reminded that "CaixaBank, true to its purpose of being close to its clients, is very active in the international business, especially in the eurozone and in the sector of Corporate loans, through its CIB division, which has grown significantly in recent years through its branches in continental Europe”.

Besides, Mohamed Gouled noted that there’s a need for the private sector, along with multilateral development banks and development finance institutions, to improve access to trade and supply chain finance to meet the growing demand, especially in low-income and fragile countries. “Trade and supply chain finance fosters resilience, drives growth, and strengthens communities to overcome uncertainty, ensuring a more stable and interconnected global economy for all,” he said.

Sustainable financing of international trade

Through the GTFP, CaixaBank finances banking organisations with which it conducts business through its international branches, representative offices and the IFI department, with backing from the IFC. In this way, the company strengthens its leadership in foreign trade financing solutions and its relationship with local banks in the jurisdictions where it operates through its international network and its partnerships with over 1,600 correspondent banks, all in an effort to provide comprehensive support to its customers that operate abroad, while also maintaining its commitment to sustainability.

In 2023, CaixaBank provided financing to 54 banks in 22 countries totalling 2.203 billion euros as part of this programme. In addition, CaixaBank reinforced its leadership in the area of sustainable financing, with over $300 million in transactions under the GTFP in 2023.

Recognition of the entity's leadership

During the Global Trade Partner Meeting, CaixaBank received the Best Confirming Bank 2024 award under the IFC's GTFP, a prize it has received on multiple occasions due to its performance in confirming and financing import and export operations worldwide, and in recognition of the effort and collaboration of multiple teams at the company, which include the staffs of Central Services, Regulatory Compliance, Risks, Legal Counsel and CIB (International Banking, IFI and Multilaterals).

These prizes recognise leading companies that provide solutions in international financing and foreign trade on a global level. In addition to various global awards, CaixaBank was named "Best Confirming Bank for Emerging Markets" in 2017, and "Best Regional Confirming Bank in Southeast Asia" in 2017 and 2021.

CaixaBank and the World Bank Group

CaixaBank has been contributing to the IFC's GTFP since 2007 as part of its firm commitment to promoting foreign trade in emerging countries and to offering its customers the best experience in the corporate financing process. It is currently one of the most active confirming banks in the programme.

CaixaBank is also involved in other programmes to boost foreign trade with institutions like the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and others. 

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org