Signature(s)
Summary sheet
- Credit lines - Credit lines
This facility provides a partial portfolio guarantee to the financial intermediary Banque pour le Commerce et l'Industrie (BCI) in order to support financing eligible small- and medium-sized investments undertaken by small and medium businesses in Mauritania, thereby contributing to economic resilience and employment generating activities in Mauritania.
This facility provides a partial portfolio guarantee to the financial intermediary BCI in order to support financing eligible small- and medium-sized investments undertaken by small and medium businesses in Mauritania, thereby contributing to economic resilience and employment generating activities.
Access to finance for corporates in Mauritania is limited and the labour market participation rate is lower than in the region, with a large percentage of young Mauritanians unemployed and untrained, and a declining financial inclusion of women.
The operation concerns a partial portfolio guarantee to Banque pour le Commerce et l'Industrie (BCI) in order to support financing eligible small- and medium-sized investments undertaken by SMEs in Mauritania, with enhanced guarantee coverage for women and youth owned or run SMEs and start-ups. It will contribute to economic resilience, employment generating activities and addressing the market failure of imperfect information and the ensued obstacles to access to finance that SMEs are confronted with when applying for funding.
The project is aligned with the EU's external action, the Neighbourhood, Development and International Cooperation Instrument (NDICI), the African Union's Agenda 2063 and the EU Sub-Saharan Africa Multi-Annual Indicative Programme 2021-2027, which supports a stronger regional and continental economic integration through inclusive economic growth and job creation. It is also aligned with the EU's Action Plan for Mauritania and the Multiannual Indicative Program (MIP) for Mauretania for years 2021-2027 as it would promote strong, sustainable and inclusive growth.
The Bank will require BCI to take all the requisite measures to ensure that the procedures, including procurement procedures, carried out by the final beneficiaries for the sub-projects receiving an underlying loan covered by the partial portfolio guarantee of the Bank, will comply with national legislation and ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in Mauritania.
The Bank will require BCI to take all requisite measures to ensure that any procurement procedures carried out by the Final Beneficiaries for the sub-projects receiving an underlying loan covered by the partial portfolio guarantee of the Bank are in accordance with the Bank's Guide to Procurement.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
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