African Development Bank Approves €25.5 Million Trade Finance Facility for Generale de Banque de Mauritanie to Support SMEs and Women Entrepreneurs
Mauritania, June 30 -- The Board of Directors of the African Development Bank Group has approved a €25.5 million trade finance facility for the Generale 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 ...
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