|Approval Date||20 May 2016|
|Signature Date||10 Nov 2016|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
This project consists in providing a USD 7 million Line of Credit (LOC) in local currency, for a 5-year term, aimed at financing the Islamic People's Bank of Mauritania’s (BPM) expansion activities. This project is part of the Program for SMEs in Africa, funded by the Bank, and which aims to support the lending activities of local Financial Intermediaries (FIs). More specifically, the program is supposed to grant standard Lines of Credit (LOC) to at least 25 FIs for a retrocession in favor of SMEs. The line of credit resources will be used by BPM to finance 72 projects in the following activity sectors: industry, mining, fishing, trade and transport. They will enable the acquisition and/or renewal of the productive apparatus of companies receiving the funds. All these targeted sectors are considered highly labor-intensive, making the proposed pipeline consistent with the program's objectives.
The objective of the project is to support the People's Bank of Mauritania (BPM) in the expansion of its medium and long term loan activities to better serve its clients, mainly SMEs (essentially for small firms) rather than micro-enterprise loans.
The main beneficiaries of the project are: the Mauritanian government, the BPM, SMEs (mainly for small firms).
African Development Bank
|Last Update||31 Oct 2019|