Mauritius - Mauritius Commercial Bank (MCB)

This project is the second Line of Credit (LOC) and the first subordinated loan of the African Development Bank to Mauritius Commercial Bank (MCB). It consists of a financial package comprising a USD 120 million senior loan and a USD 30 million subordinated loan to MCB for on-lending to large and medium-sized enterprises in Mauritius and neighboring countries such as Madagascar, Mozambique and Seychelles. It should be noted that MCB is a regional bank with branches in Mauritius, Seychelles and Mozambique, as well as with representative offices in Johannesburg and Nairobi. It actively supports several banks in mainland Africa through its “Bank banking” initiative and its trade finance operations. In addition, it finances projects in Ghana, Kenya, Seychelles, Madagascar and many other countries. MCB customers are primarily active in the manufacturing, transportation, financial services, construction, agro-industry and energy sectors. This new LOC will build on the experiences gained with LOC I, in promoting the expansion of MCB and supporting economic activities in Mauritius and surrounding countries.