Proparco and Banque Populaire de Mauritanie sign a $15 million trade finance guarantee
published on 30 March 2023
The guarantee package granted by Proparco amounts to $15 million. It will enable Banque Populaire de Mauritanie to strengthen its import financing activity in Mauritania and increase its contribution to the country's supply.
This partnership between Proparco and BPM will support the growth of the Mauritanian bank by strengthening its trade finance programme, which already enjoys a good reputation among the institution's many partner correspondent banks.
By guaranteeing $15 million in trade finance instruments issued by BPM, Proparco is enabling the bank to increase this activity and thus promote the import of goods that are essential to the country's economy, including agricultural foodstuffs, construction materials and industrial and medical equipment.
"This operation allows us to support Banque Populaire de Mauritanie in one of its significant growth drivers: trade finance. It is also an essential activity for the country, as it allows for increased financing of imports in a context of significant increases in commodity prices." says Sadio Dicko, Proparco's Regional Director for West Africa.
For the bank's international director, Mohamed Lemine Hamony, "This line of guarantee will enable BPM to increase the volume of financing it grants to its client base of importers, particularly those involved in raw materials and food products, and will facilitate its access to new correspondents from whom it had not previously obtained confirmation lines."
