CaixaBank Joins Proparco’s Trade Finance Program to Strengthen Trade Flows in Africa

• The financial entity is the first Spanish bank participating in the program.
• In 2024, CaixaBank provided financing to 89 banks in 33 countries totalling more than US$3.5bn as part of several trade finance covered programmes.

CaixaBank is partnering with Proparco, the private sector financing arm of the Agence Française de Développement Group (AFD Group), to join Proparco’s Trade Finance Guarantee Program as a confirming bank, reinforcing its commitment to supporting trade development in Africa.

CaixaBank stands as the 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”.

Through this collaboration, CaixaBank becomes the first Spanish confirming bank within the program and will leverage its expertise and global network to improve trade finance accessibility, helping businesses in Africa overcome liquidity constraints and operational challenges. This collaboration also underscores Proparco’s commitment to addressing Africa’s trade finance shortfall and strengthening the continent’s participation in global markets.

About Proparco

Proparco is a subsidiary of the Agence Française de Développement group (AFD), and has been working alongside private-sector players for over 45 years, in favour of a fairer and more sustainable world. With an international network of 23 local offices, Proparco works closely with its partners in order to build sustainable solutions to environmental and social challenges in Africa, the Middle East, Asia and Latin America. Proparco has sector-specific expertise, a diversified range of financial tools adapted to the different stages of a company's development, notably through its subsidiary Digital Africa, and a technical support offer, Propulse, to leverage the impact and performance of its partners.

With its new 2023-2027 strategy “Acting together for greater impact”, Proparco is exploring, strengthening and amplifying its modes of intervention with its partners. Find out more: https://www.proparco.fr/fr/strategie.

For more information: http://www.proparco.fr | @Proparco | LinkedIn

About CaixaBank

CaixaBank is the leading bank in Spain, with assets exceeding €630 billion. The bank develops a socially responsible universal banking model with a long-term vision, based on quality, proximity, and specialization. Its positioning as a leading banking entity allows it to play a key role in contributing to sustainable economic growth and financial inclusion of vulnerable groups and rural areas.

CaixaBank channels its international presence through its 7 Branches and 17 Representative Offices worldwide and through cooperation agreements with more than 1,680 correspondent banks. Specifically, CaixaBank has an operational branch in France for corporate clients, and presence in Africa through its operational branch in Morocco and its representative offices in Cairo, Algiers and Johannesburg.

For more information, go to: [email protected]