Mauritania - "Banque Populaire de Mauritanie" (BPM) (under the Africa SME Program)

This project consists in providing a USD 7 million Line of Credit (LOC) in local currency, for a 5-year term, aimed at financing the Islamic People's Bank of Mauritania’s (BPM) expansion activities. This project is part of the Program for SMEs in Africa, funded by the Bank, and which aims to support the lending activities of local Financial Intermediaries (FIs). More specifically, the program is supposed to grant standard Lines of Credit (LOC) to at least 25 FIs for a retrocession in favor of SMEs. The line of credit resources will be used by BPM to finance 72 projects in the following activity sectors: industry, mining, fishing, trade and transport. They will enable the acquisition and/or renewal of the productive apparatus of companies receiving the funds. All these targeted sectors are considered highly labor-intensive, making the proposed pipeline consistent with the program's objectives.