|Approval Date||15 Jun 2016|
|Signature Date||07 Dec 2016|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present project is a USD 10 million Trade Finance Line of Credit (TFLoC) to support Mauritania's Bank for Trade and Industry's (BCI) trade finance operations. This financial institution is a leading Mauritanian import/export bank. BCI provides banking services to retail clients notably SMEs. It is classified as a Tier 1 bank holding 7% of Mauritania’s total banking sector assets and 9% of total deposits. It has subsidiaries in Mali, Guinea Conakry and Senegal, and is planning to open a new subsidiary in Ivory Coast. The TFLoC is expected to generate “positive” additionality and “good” development outcomes. It will contribute to BCI’s increased trade finance operations and provide stable and affordable foreign currency resources. It is also anticipated that the TFLoC will generate incremental fiscal revenues estimated at USD 12 million.
The project aims to strengthen financial intermediation in Mauritania, to facilitate the growth of SMEs, promote private sector development and accelerate economic and social development. Especially, this operation seeks to help Mauritania's Bank for Trade and Industry (BCI) to support its trade finance activities.
The main beneficiaries of this project are the BCI and SMEs.
African Development Bank
|Last Update||31 Oct 2019|