The Foreign Trade Bank of Latin America, Bladex, has formally joined a foreign trade guarantee programme run by the export-import bank of Mexico to boost trade finance for Mexican companies.
Managed by Banco Nacional de Comercio Exterior (Bancomext), the programme aims to increase the international trade activity of Mexican firms through the provision of guarantees to foreign banks financing Mexican deals.
According to a statement from Bladex, the bank has joined the programme to enhance Mexico’s “integration with the rest of Latin America and the Caribbean” and “boost the trade flows dynamics across the region”.
Through the programme, Bancomext will provide guarantees on trade finance transactions supported by Bladex, mainly in the consumer goods, intermediate goods and capital goods sectors, as well as transport equipment and project finance.
Guarantees under the programme will cover imports and exports of Mexican goods and services, as well as projects that help Mexican companies expand abroad or that boost foreign direct investment in the nation.
Panama-headquartered Bladex was established in 1978 by the central banks of Latin American and the Caribbean to promote foreign trade and economic integration in the region. It also has offices in Argentina, Brazil, Colombia, Mexico, Peru and the US, with customers including financial institutions and corporations.