PRET SUPPLEMENTAIRE PROJET D'APPUI A LA MODERNISATION DE L INFRASTRUCTURE FINANCIERE (AFDB-P-MR-HZ0-005)

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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Apr 1, 2020
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
  • Finance
  • Law and Government
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)
$ 0.55 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 Sep 8, 2020

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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 bank documents, the overall objective of the project is to help build the capacity of the BCM for the development of the Mauritanian financial sector. The specific objectives of the project are: (i) establishment of the national payments system; (ii) modernize the BCM's information system; (iii) support the implementation of the exchange rate policy by setting up an interbank trading room for foreign exchange transactions; and (iv) strengthen the stability of the banking and microfinance sector.

The present operation concerns a UA 400,000 supplementary loan from African Development Fund (ADF) to the Islamic Republic of Mauritania to finance the Financial Infrastructure Modernisation Support Project (PAMIF). The PAMIF, designed on the basis of the recommendations of the Financial Stability Assessment (FSAP 2015), is considered as a starting point for the establishment of the basic infrastructure of the financial sector in the country. The project will contribute to creating the necessary conditions for a sustained economic recovery, in particular by improving the financing of economic activities to further support the development of the private sector, the main engine of growth. The project is divided into two main components. The first component is aimed at modernizing the national payments system and setting up an information system at the Central Bank. The second component, relating to the modernization of foreign exchange operations and strengthening the stability of the financial sector, will make it possible to support the implementation of the exchange rate policy through the installation of an interbank market trading room change; and the establishment of supervision tools for the banking and microfinance sectors, which have seen significant development in recent years.

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.

Name MAHAMOUD HOUSSEIN Ismail
i.mahamoudhoussein@afdb.org 

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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How it works