Mauritania - Corporate Loan to Societe Nationale Industrielle et Miniere (SNIM) (AFDB-P-MR-B00-007)

Countries
  • Mauritania
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 28, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Mauritania
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AFDB website

Updated in EWS Mar 19, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank provided information, the project aims to double the railroad's nominal capacity, through: i) the acquisition of additional rolling stock, ii) the construction of maintenance facilities and the acquisition of related equipment, iii) the construction of additional sidings and iv) the construction of additional tracks, including station tracks, connections to maintenance sites and production sites. In addition, the project includes the installation of a photovoltaic solar power plant. The project also includes the installation of a 12 MW photovoltaic solar power plant. Finally, the Bank will provide SNIM with technical assistance for climate change risk assessment (CCRA), to help it prepare for the impact of climate change.

Government benefits. The project is expected to generate additional revenue, mainly in dividends for the Mauritanian government. Indeed, this logistical expansion capacity project will increase the volume of transported iron ore by SNIM through the additional iron ore produced by SNIM, directly and indirectly via partnerships with other companies. This is expected to impact its profits first and then its dividends. The incremental government revenues because of the project are estimated to be significant over the project life time. Household benefits. The project is expected to create jobs during both the construction and the operation and maintenance phases. It is expected to generate 5 full-time equivalent (FTE) jobs during the construction phase and 300 FTE jobs during the operation phases of the constructed maintenance facility, which correspond to a total of 305 FTE jobs to be created over the assessment period, 10% of these jobs will be for woman. Private sector development. The Project will allow

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Yves Laurent Didier WITHOFS
Investment Off./Renewable Energy, PERN3
African Development Bank
y.withofs@afdb.org 
www.afdb.org 

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/ 

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