| Project Detail |
The operation consists of a Multiple Beneficiary Intermediated Loan (MBIL) of up to EUR 20,000,000 to Banque El Amana (BEA) to support eligible investments undertaken by small and medium-sized enterprises (SMEs) and mid-caps in Mauritania. The loan will be allocated to financing SMEs (at least 70% of the loan) and mid-caps (up to 30% of the loan) across sectors such as sustainable fisheries, agriculture value chains, tourism, transport, manufacturing and services. Objectives This operation aims to reduce youth unemployment, improve gender equality in financial inclusion, and endow a blue economy target: i) A minimum of 30% of the loan amount will be specifically targeting businesses led and/or founded by a young entrepreneur or employing at least 40% of young people, defined as people between the ages of 15 to 35 years, in line with the African Youth Charter. ii) A minimum of 30% of the loan amount will meet the 2X Challenge Criteria adopted by the EIB in October 2019. The criteria are aligned with the OECD gender marker 1 (gender equality is a significant objective) as the promotion of gender equality is one of the objectives that has been included in the design of the investment. iii) In addition, a minimum of 20% of the loan amount will target enterprises in the blue economy sector, with activities that are for instance marine-based (such as sustainable capture fisheries and aquaculture, marine renewable energy, maritime transport, and maritime and coastal tourism); marine-related (such as seafood processing, shipbuilding and repair, port activities, and research and innovation in ocean industries) aimed at reducing the impact of land-based activities on the marine environment (such as solid waste and wastewater management, and pollution reduction), and those focused on protecting the coast from the effects of floods (such as coastal protection projects and storm water management). Sector(s) Credit lines - Credit lines Under Global Europe NDICI guarantee Under EFSD+ Guarantee Proposed EIB finance (Approximate amount) EUR 20 million Total cost (Approximate amount) EUR 40 million |
