The African Development Bank Group has approved a new €25.5 million trade finance facility for the Générale de Banque de Mauritanie (GBM), aimed at supporting the country’s women-led enterprises, SMEs, as well as large corporates.
The package includes a €15 million trade finance line of credit, a €5 million trade finance guarantee, and a €500,000 grant through the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, funded by the Women Entrepreneurs Finance Initiative (We-Fi). An additional $5 million in co-financing will come from the Africa Growing Together Fund (AGTF), a partnership between the African Development Bank and the People’s Bank of China.
The newly approved facility is designed to support Mauritania’s economic development by helping finance imports of equipment across key sectors including renewable energy, agriculture, fisheries, infrastructure, light industry, telecommunications, and essential goods. A major focus will be placed on SMEs, large local businesses and businesses 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, praised the renewed collaboration with the Bank, noting its broader economic implications. “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 said.
Malinne Blomberg, Deputy Director General for North Africa at the African Development Bank, added: “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.”
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.
