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Supporting trade flows with the Trade Finance guarantee
Project
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Signature date
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Location
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Liberia
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Financing tool
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Financing amount (Euro)
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14018692
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Financing details
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USD 15m Guarantee
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Customer
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ECOBANK LIBERIA
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Type of customer
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Financial institution
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Country of headquarters
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Liberia
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Project number
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PLR1010
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has renewed its support to Ecobank Liberia through a Trade Finance guarantee to support trade between countries, in particular of essential goods.
Client presentation
Founded in 1999, Ecobank Liberia (ELR) offers a range of services to individuals, companies (including small and medium-sized enterprises), and corporations. ELR has 10 nationwide branches, 40 ATMs, and 60 retail outlets in the main regions of the country (Montserrado, Nimba, Lofa, Cagibi, Grand Bassa and Maryland). In 2021, ELR had 250,000 clients and 172 employees.
Project description
Proparco has renewed its partnership with Ecobank Liberia by allocating a Trade Finance guarantee. The project will enable the allocation of guarantees to the confirming banks that are members of the program for documentary credits issued by Ecobank Liberia, for a maximum amount of USD 15m.
Ecobank Liberia is the final beneficiary of the planned guarantee scheme. The guarantee allows the bank to provide more financing for goods by removing constraints on its confirmation limits. Proparco’s support comes at a time when the bank is developing its activity. At the same time, prices for fuel and food imports are rising due to the war in Ukraine.