Signature(s)
Summary sheet
The operation concerns a newly created bank i.e. Banque Internationale d’Investissement (BII) incorporated in Mauritania in July 2005. BII will seek to develop four segments; namely corporate clients (domestic or international), international organisations, SMEs and selected retail banking clients. The bank’s official operational start-up is foreseen for 16/01/2006.
The entry of a new bank offering modern banking products and technology is expected to contribute to the development of the country’s financial system. Increased competition should push other banks to reform and/or consolidate and encourage the supervisory authorities to strengthen banking regulation. The proposed EIB participation in the capital of BII is anticipated to send a signal attracting more efficiency-enhancing foreign direct investment in the banking sector.
This operation has no environmental impact.
Not Applicable.
Financial
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They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
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