AfDB Approves €25.5M Trade Facility for GBM to Boost SMEs and Women in Mauritania

The African Development Bank Group (AfDB) has approved a €25.5 million trade finance facility to strengthen the lending capacity of Générale de Banque de Mauritanie (GBM), with a targeted focus on empowering small and medium-sized enterprises (SMEs), women-led businesses, and large local corporations in Mauritania. This strategic financial injection is aimed at enhancing economic resilience and promoting inclusive growth across key productive sectors.

The comprehensive funding package, approved by the AfDB Board of Directors, comprises a €15 million trade finance line of credit, a €5 million trade finance guarantee, and a €500,000 grant from the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, through the Women Entrepreneurs Finance Initiative (We-Fi). Additionally, a $5 million co-financing contribution is being provided by the Africa Growing Together Fund (AGTF)—a collaborative facility between the African Development Bank and the People’s Bank of China.

A Catalyst for Inclusive and Sustainable Growth

The facility is designed to enable GBM to scale up its trade finance offerings—such as letters of credit and guarantees—to a broader spectrum of businesses, especially in sectors prioritized for national development. These include renewable energy, fisheries, agriculture, infrastructure, light manufacturing, telecommunications, and the importation of essential goods vital to the country's domestic needs.

“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 AfDB’s Financial Sector Development Department. “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.”

This move is especially significant in Mauritania, where access to trade finance remains a key constraint for smaller businesses and female entrepreneurs due to perceived risks and collateral requirements.

Empowering Women and Local Entrepreneurs

The inclusion of a €500,000 grant under the AFAWA initiative marks a targeted effort to support women-led enterprises—a demographic historically underrepresented in financial inclusion. The grant will help remove structural barriers and provide tailored capacity-building and technical assistance for women entrepreneurs, aligning with global goals to empower women in business.

Leila Boumatou, CEO of GBM, emphasized the broader socio-economic value of the facility:

“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.”

Supporting National Economic Objectives

The approved facility aligns with the African Development Bank’s strategic focus on boosting private sector development, regional integration, and financial inclusion in Mauritania. It supports the country’s broader economic development agenda by enabling productive sectors to access the capital and trade instruments they need to scale operations, boost exports, and create sustainable employment opportunities.

Malinne Blomberg, Deputy Director General for North Africa at the African Development Bank, reinforced this commitment:

“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.”

Mauritania’s economy, traditionally reliant on extractives and fishing, is undergoing diversification efforts to tap into renewable energy potential, industrial manufacturing, and digital transformation. The financing package is expected to play a pivotal role in supporting this transition.

Building Financial Infrastructure for the Future

The facility is not only designed to meet immediate trade finance needs but also to build institutional and operational capacities within GBM. By empowering local banks to become stronger intermediaries in the trade finance space, the initiative fosters a more competitive financial sector that can mobilize both local and international capital for development.

Through its dual focus on liquidity and risk mitigation, the facility is expected to unlock broader access to credit for Mauritanian entrepreneurs and contribute to a more dynamic, inclusive, and export-oriented economy.

Looking Ahead

The African Development Bank and GBM view this renewed partnership as a model for future collaborations that promote gender equality, economic diversification, and inclusive financial ecosystems across the continent. With this latest initiative, Mauritania takes a concrete step forward in realizing its national development vision while ensuring that growth is shared and sustainable.