- Expansion
- Latin America trade-finance line
Programme Latitude · Initiative
Latin America trade-finance line
The line finances trade across the isthmus and down the Pacific coast: animal-health product, veterinary cold chains, aquaculture feed and agri-science inputs. It opened in 2025 at US$25 million, funds tenors of 90 to 180 days, and is drawn against documents rather than against a borrower balance sheet.
Drawn utilisation ran at 71 per cent through the first half of 2026 across 34 transactions and 19 borrowers. The average transaction is US$1.1 million. Two facilities have been restructured and none written off. Pricing is a floating base plus a country spread and a counterparty spread, each documented at the time of the drawing.
In 2031 the line rises to US$60 million, funded from the proprietary balance sheet rather than from the programme, and extends to Uruguayan and Chilean borrowers. Panama City holds credit authority up to US$5 million a transaction. Anything larger is decided by the Investment Committee in George Town.
Deliverables
- A committed line of US$60 million by 2031, raised from the US$25 million opened in 2025.
- Coverage extended from Panama, Brazil and Mexico to Uruguayan and Chilean borrowers.
- Regional credit authority of US$5 million a transaction held in Panama City.
- Every borrower and every correspondent screened under the sanctions programme before a first drawing.
- Losses on the line held below 0.5 per cent of amounts drawn across the programme.