(Ecofin Agency) - Maghreb Bank for Investment and Foreign Trade (BMICE) informs that since 2015 when it was created, it has invested $20 million in Mauritania’s economy.
Mohamed Djellab (photo), president of the administrative board of the institution created to boost and strengthen economic integration between the five countries of the Arab Maghreb Union (Algeria, Lybia, Tunisia, Morocco, and Mauritania), indicated that these funds were used to finance numerous government projects. He also announced the upcoming opening of a representation of BMICE in Nouakchott.
Apart from financing government projects, BMICE also opened credit lines for private banks. Without providing details on the volume of those investments, the institution explained that the funds were used to finance local trade activities on one hand and on the other, to boost the flow of commercial activities within the Arab Maghreb Union.