Release date: 10 January 2006
Promoter – Financial Intermediary
Banque Internationale d’Investissement SALocation
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 information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).