Mauritania: AfDB Approves €25.5 Million Trade Finance Facility to Support SMEs and Women Entrepreneurs
The Board of Directors of the African Development Bank Group has approved a €25.5 million trade finance facility for the Générale de Banque de Mauritanie (GBM) to enhance its financial offerings to large corporates, small and medium-sized enterprises (SMEs), and women-led businesses in Mauritania.
The package includes a €15 million trade finance line of credit, a €5 million trade finance guarantee and a €500,000 grant under the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative through the Women Entrepreneurs Finance Initiative (We-Fi). It also comprises an additional $5 million in co-financing from the Africa Growing Together Fund (AGTF), a facility jointly established by the African Development Bank and the People’s Bank of China.
The facility aims to bolster Mauritania’s economy by facilitating the import of equipment in priority sectors such as renewable energy, fisheries, agriculture, infrastructure, light manufacturing, telecommunications, and essential goods to meet immediate domestic needs. It will primarily benefit SMEs and large local businesses, including those owned or led by women.
“This partnership—the second of its kind with Générale de Banque de Mauritanie—provides essential financial resources to improve the bank’s trade finance offering for SMEs and other enterprises,” said Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank. “The trade finance guarantee will allow the Bank to provide up to 100% coverage to confirming banks, enabling them to confirm letters of credit and similar trade finance instruments issued by GBM. This will be complemented by the line of credit, which will inject vital liquidity into the system,” he explained.
Leila Boumatou, CEO of GBM, welcomed the second partnership with the Bank Group, she said: “This initiative goes beyond financial progress—it is a real lever for inclusive growth. It empowers our entrepreneurs, particularly women, to turn local ambitions into tangible outcomes. The facility will allow us to bridge a structural financing gap and translate financial instruments into real impact—supporting women-led SMEs, fostering industrial innovation, and helping build a more resilient Mauritanian economy,” she stated.
Malinne Blomberg, Deputy Director General for North Africa at the African Development Bank Group, affirmed that the operation aligns with the Bank’s objective to scale up direct support to the private sector in Mauritania. “This facility will strengthen GBM’s ability to support Mauritania’s economy, stimulate local productive sectors, and drive economic growth while creating and sustaining thousands of jobs,” she noted.
About Générale de Banque de Mauritanie (GBM)
GBM is a systemic financial institution in Mauritania, exclusively dedicated to financing SMEs and companies operating in key economic sectors. With a team of 115 staff, equity of €68 million, and a total balance sheet of €209 million, the bank serves a portfolio of 1,300 business clients and is particularly active in international trade finance. GBM is the only bank in Mauritania led by a woman.
