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    Reference: 20030441
    Release date: 10 January 2006

    Promoter – Financial Intermediary

    Banque Internationale d’Investissement SA

    Location

    Description

    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.

    Objectives

    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.

    Comments

    Financial

    Sector(s)

    Proposed EIB finance (Approximate amount)

    Up to USD 5 million in the form of an equity participation

    Total cost (Approximate amount)

    Not Applicable.

    Environmental aspects

    This operation has no environmental impact.

    Procurement

    Not Applicable.

    Status

    Under appraisal - 17/03/2006

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Mauritania Services