The European Investment Bank (EIB) is providing €20 million in financing and a portfolio guarantee to the Banque Mauritanienne de l’Investissement (BMI) in Mauritania. This collaboration marks the first partnership between the EIB and the Mauritanian financial sector since 2006, and it falls under the new 2023-2027 agreement between the European Commission and the EIB for financing the private sector in Africa.
Through BMI, the funding intends to support an estimated 400 small- to medium-sized enterprises in Mauritania.
The funding comprises a €20 million credit line as well as a €40 million guarantee. At least 30% of EIB funding will be directed towards assisting women entrepreneurs and young people, therefore supporting inclusive economic growth.
Additionally, the EIB will support BMI in adopting climate reporting in accordance with international norms, adding to the more than €200 million in funding awarded since 2021.
This endeavor follows the signing of an agreement between Mauritania and the European Union in June to establish a program to supply inexpensive and clean power to 20 towns in the southeast area. The project, which has a budget of €13.25 million, intends to promote Mauritania’s energy transformation and boost EU-Mauritania collaboration.
