Hogan Lovells advises Proparco on African trade finance first

London, 25 July 2017 – Hogan Lovells has advised Proparco, a subsidiary of the Agence Française de Développement devoted to private sector funding, in relation to a trade finance loan facilitation programme worth $50 million for pan-African banking group Ecobank.

On 12 July Proparco signed a trade finance guarantee package which will help to boost trade between African and European countries by guaranteeing documentary credits issued by four of Ecobank’s West African subsidiaries (in Burkina Faso, Côte d’Ivoire, Guinea (Conakry) and Mali) and confirmed by EBI S.A., Ecobank’s Paris-based subsidiary.

The deployment of this trade finance facilitation programme forms an important part of Proparco’s 2017-2020 strategy and will enhance the capacity of the participating Ecobank subsidiaries to expand their range of activities in support of trade in Africa.

The Hogan Lovells team was led by trade finance partner David Leggott in Hogan Lovells' Africa practice, with associate Rhodri Lewis in London, and partner Olivier Fille-Lambie and associate Alex Bebe Epale in Paris.

Commenting on the programme, David said:

“The existence of a trade finance funding "gap" in Africa is well documented and we are delighted to have assisted Proparco on this programme which will help to give African businesses the fuel that they need to support their international trade activities, fostering development and generating economic growth on the continent.”

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