According to bank provided information, the proposed operation is an up to EUR 20,000,000 Multiple Beneficiary Intermediated Loan to Banque Mauritanienne de l'Investissement (BMI), to support eligible small and medium-sized enterprises (SMEs) and MidCaps in Mauritania, with a focus on youth employment and gender equality and women's economic empowerment, in line with the 2X Challenge Criteria.
The EIB loan will be entirely used to finance eligible investments made by SMEs and Midcaps in sectors such as transport, agriculture value-chain, manufacturing, tourism and services, thus contributing to reduce youth unemployment and improve gender equality in financial inclusion.
More specifically, at least 30% of the EIB financing will target businesses led and/or founded by a young entrepreneur, employing at least 40% of young people, or having in place a policy and a commitment to implement a programme to train and skill youth.
A minimum of 30% of the loan amount will be targeting businesses owned, run, employing or primarily serving women to promote gender inclusion and women empowerment in businesses, in line with the 2X Challenge, defining financing criteria for gender equality.
*Contact information not provided at the time of disclosure*
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