The African Development Bank (AfDB) has signed a technical assistance agreement with Mauritanian financial institution, the Bank for Trade and Industry Group (BCI), to improve access to financing for women in Africa.
The agreement falls under the Affirmative Finance Action for Women in Africa program, a pan-African initiative that aims to close the $42 billion financing gap for women in Africa by unlocking $5 billion in funding for women-owned and managed small and medium enterprises (SME) by 2026.
Signed by AfDB Director General for North Africa, Mohamed El Azizi and Managing Director of BCI’s Trade and Industry Group, Isselmou Tajidine, the agreement will strengthen the BCI’s financing capacity while supporting women-owned SMEs across West Africa.
According to Tajidine, “This technical assistance project reinforces the BCI Group’s strategic partnership with the AfDB, which will position us as the bank of choice for women entrepreneurs in Mauritania, Senegal, Mali and Guinea. It will help expand our offering of financial products and technical support for women-led businesses.”
“The signing of this technical assistance agreement with the BCI Group is an important step in supporting the financing inclusion and growth of women-led SMEs, which play a crucial role in Mauritania’s economic development,” Tajidine stated.