According to bank provided information, the project aims to provide an EUR 10 million Trade Finance Line of Credit (TFLOC) to Banque pour le Commerce et l'Industrie (BCI). The loan will help BCI expand its trade finance activities in Mauritania. The proposed facility is expected to deliver good development outcomes, mainly in: (i) private sector development through better access to trade finance resources for local SMEs and businesses; (ii) Regional integration and economic resilience thanks to the support of a local bank that operates in 3 countries of the sub-region and thus participate in strengthening economic resilience and supporting intra-African trade; and (iii) Gender and social effects through support for the population and the employment of women in the target sectors of activity of the facility. The facility will also contribute to inclusive growth given its support to SMEs operating in key sectors of the country's economy and therefore its contribution to economic diversification.
Established in 1999, BCI is one of the leading trade finance bank in Mauritania. BCI has subsidiaries in Mali, Guinea and Senegal and aims to consolidate its role as an active trade finance banking group in the sub-region.
*Contact information not provided at the time of disclosure*
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