BII and IFC sign $10 million guarantee to support Mauritanian trade
The guarantee agreement, signed under IFC's Global Trade Finance Program, will help BII back its corporate clients in import and export deals with foreign banks.
The Banque Internationale d’Investissement (BII) and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a $10 million guarantee agreement. The deal is meant to make it easier for Mauritanian companies to trade with partners abroad.
The agreement was concluded under IFC's Global Trade Finance Program. It will let BII better support its corporate clients in import and export operations through a guarantee mechanism that eases their dealings with international banks, while securing commercial operations.
BII said the partnership with IFC reaffirms its commitment to Mauritania's economic actors and its aim of supporting the long-term growth of international trade in the country.
Why it mattersMauritanian companies importing and exporting will be able to trade through a guarantee mechanism that eases their dealings with international banks.