Supporting imports with Banque Populaire de Mauritanie

Banque Populaire de Mauritanie (BPM) was established in 2012, following an extension of the license of Mauritania Leasing Company, which was the recognized leader in Mauritania’s leasing market. 

The bank has a network of 37 branches across the 11 regions in the country and offers financing products to individual, corporate and business clients (in particular to finance their international business). BPM also offers digital banking services through its application Bankily.

BPM finances the country’s imports and this activity is central to its development strategy. It operates with a wide range of correspondent banks with which it has lines in USD and EUR. However, due to volume growth in USD in the region, and the general increase in the price of raw materials and food commodities due to the international context, the bank is faced with strong pressure on hedges for trade finance instruments in USD.

By providing a USD 15m guarantee for the Trade Finance instruments issued by BPM to its confirming banks (which will be the primary beneficiaries of the guarantee), Proparco will increase the bank’s financing capacity and enable local economic players to benefit from new 

sources of financing.  

This operation will support a fast-growing local bank for the development of this essential activity for the development of the country, which is structurally an importer.

The project will contribute to SDGs 1 (“No poverty”), 8 (“Decent work and economic growth”) and 17 (“Partnerships for the goals”).