IFC/SG MRT Trade

completed

The proposed project consists of a revolving secured short term trade facility, with a significant funding mobilization factor, to support key private sector operators (the international energy trader and domestic oil marketing companies) in their access to finance the import, purchase and marketing of refined fuel products in Mauritania. The proposed project would lend in parallel along with Societe Generale, DFIs and other commercial lenders to BB Energy- the successful bidder under Government of Mauritania’s oil import tender arrangement. BB Energy, an international trading company domiciled in the United Arab Emirates, has been awarded a 2-year contract to supply refined oil products to Mauritania for 2012-2014. The funding will be used by BB Energy to finance: (i) purchase of oil products imported into Mauritania and related storage expenses; (ii) as well as related receivables against local oil product marketing companies, and major domestic industrial entities which are consumers of refined fuel products.