Mauritania - "Banque pour le Commerce et l’Industrie" – Trade Finance Line of Credit


Project Summary

Approval Date 15 Jun 2016
Signature Date 07 Dec 2016
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 7,335,088.86
Status Implementation

Project General Description

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.

Project Objectives

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.

Beneficiaries

The main beneficiaries of this project are the BCI and SMEs.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-MR-HAB-007
Last Update 31 Oct 2019

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Mauritania