Mauritania - "Banque pour le Commerce et l’Industrie" – Trade Finance Line of Credit

The present project is a USD 10 million Trade Finance Line of Credit (TFLoC) to support Mauritania's Bank for Trade and Industry's (BCI) trade finance operations. This financial institution is a leading Mauritanian import/export bank. BCI provides banking services to retail clients notably SMEs. It is classified as a Tier 1 bank holding 7% of Mauritania’s total banking sector assets and 9% of total deposits. It has subsidiaries in Mali, Guinea Conakry and Senegal, and is planning to open a new subsidiary in Ivory Coast. The TFLoC is expected to generate “positive” additionality and “good” development outcomes. It will contribute to BCI’s increased trade finance operations and provide stable and affordable foreign currency resources. It is also anticipated that the TFLoC will generate incremental fiscal revenues estimated at USD 12 million.