| Project Detail |
The proposed operation involves a Multiple Beneficiary Intermediated Loan of up to €25 million to the Banque pour le Commerce et l’Industrie (BCI). This loan is aimed at supporting eligible small and medium-sized investments undertaken by private companies, particularly small and medium businesses and mid-caps, in Mauritania, with a focus on youth employment and gender equality and womens economic empowerment, in line with the 2X Challenge Criteria.
Objectives
This operation will aim at on-lending to small and medium businesses (SMEs) and mid-caps in Mauritania and will focus on youth and gender inclusion, while targeting green investments: - A minimum of 50% of the loan amount will be specifically targeting businesses led and/or founded by a young entrepreneur, employing at least 40% of young people, or having in place a policy and a commitment to implement a programme to train and skill young persons. Young people / entrepreneurs are defined as people between the ages of 15 to 35 years, in line with the African Youth Charter; - A minimum of 40% of the loan amount will be specifically targeting businesses owned, run, employing or primarily serving women, in line with the 2X Challenge criteria, hence promoting gender inclusion and women empowerment in businesses. In October 2019, EIB adopted the 2X Challenge Criteria to define what the Bank consider as financing for gender equality; - In addition, on a best effort basis BCI will focus on green investments defined as projects eligible under the EIB Climate Action & Environmental Sustainability priority. Eligible sub-projects could relate to climate adaptation investments or climate mitigation investments such as renewable energy generation, energy efficiency improvements, sustainable agriculture, low carbon road vehicles fleet, waste collection and transport, water supply, pollution prevention and control investments.
Sector(s)
Credit lines - Credit lines
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
not applicable |
