Ligne de Crédit à la Générale de Banques de Mauritanie (GBM)


Project Summary

Approval Date 12 Dec 2002
Signature Date 22 Apr 2003
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 6,518,564.87
Status Completion

Project General Description

The present project involves a credit line of $ 10 million to the "Générale de Banque de Mauritanie (GBM)". It aims at medium-term financing of viable projects mainly in the sectors of industries and services eligible for Bank financing. The projects to be financed under this intervention should be financially profitable and solvent. In addition, they should respect the environmental standards as defined in the laws and regulations in Mauritania and in the policies and procedures of the Bank. In addition, the foreign exchange risk of foreign currency loans should be assumed by the final borrowers who will repay their loans in the currency of their loans. Borrowers should be able to repay in local currency at the rate of exchange prevailing between ouguiya and the loan currency on the date of payment.

Project Objectives

The objective of the project is to finance viable projects in the medium term, mainly in the sectors of industries and services eligible for Bank financing. Specifically, the line of credit should be used to acquire capital goods and supplies necessary for the realization of investments for the creation, modernization, extension and renovation of companies with high growth potential.

Beneficiaries

The direct beneficiary of this line of credit is the "Générale de Banque de Mauritanie (GBM)". In addition, it should indirectly benefit businesses and industries.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-MR-HAB-001
Last Update 31 Oct 2019

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Mauritania