Proparco, the private sector financing arm of the French Development Group (AFD), has expanded its support for international trade in North Africa by welcoming Union Bancaire pour le Commerce et l’Industrie (UBCI) into its Trade Finance program as an issuing bank.
This partnership enables UBCI to broaden its services for clients and strengthen its trade finance lines with international correspondent banks, further supporting the growth of Tunisian businesses.
Proparco and UBCI formalized their collaboration with the signing of a €30 million Trade Finance guarantee facility in Tunis on May 12.
The signing ceremony, attended by H.E. Anne Guéguen, Ambassador of France to Tunisia, reinforces the long-standing partnership between the two institutions.
This agreement will help secure international transactions for Tunisian companies, promoting value creation and economic growth.
Amid constrained financing conditions, UBCI plays a pivotal role in Tunisia’s Trade Finance sector.
By joining Proparco’s network, UBCI will enhance its ability to support large corporations, SMEs, and small businesses, particularly in strategic sectors like agribusiness, manufacturing, and distribution, by providing the necessary tools to safeguard their cross-border operations.
Mohamed Koubaa, CEO of UBCI, stated: “Joining Proparco’s Trade Finance program reaffirms UBCI’s commitment to supporting Tunisia’s economy and the internationalization of its businesses.
This strategic partnership will allow us to better assist our clients in meeting their trade finance needs, reinforcing our role as a key player in Tunisia’s sustainable economic development.”
“Proparco is delighted to deepen its historic partnership with UBCI, the first Tunisian bank to join our Trade Finance program.
This initiative will empower local businesses to import essential goods, driving value-added production and meeting the needs of Tunisia’s economic ecosystem and SMEs,” Frédérique Masi, Proparco’s Regional Director for North Africa, pointed out.
