AfDB grants $30 million facility to Mauritania’s GBM

The African Development Bank Group has approved a $30 million trade finance facility for the Générale de Banque de Mauritanie (GBM) to build on its financial offerings to large corporates, small and medium-sized enterprises (SMEs), and women-led businesses in Mauritania. According to the AfDB, the facility will bolster Mauritania’s economy helping import equipment needed in key sectors such as renewable energy, fisheries, agriculture, infrastructure, light manufacturing and telecommunications. The AfDB also said it would primarily benefit SMEs and large local businesses, including those owned or led by women.