The European Investment Bank (EIB), together with Banque El Amana (BEA), has signed a €20 million financing agreement to support small and medium-sized enterprises (SMEs) in Mauritania’s seafood value chains. Announced today at the 4th International Conference on Financing for Development, this operation under the EU’s Global Gateway initiative will bolster the blue economy—a strategic pillar of EU–Mauritania cooperation—and foster inclusive growth.
Under the facility, at least 30 percent of funds will be earmarked for women-led or women-majority enterprises, and another 30 percent for youth-led or youth-majority businesses, aligning with the 2X Challenge criteria and Mauritania’s March 2024 EU–Mauritania partnership on migration and employment.
“This partnership strengthens BEA’s role in advancing a sustainable blue economy,” said Mohamed Ahmed Salem Bouna Moctar, CEO of Banque El Amana. “We are committed to inclusive growth that empowers women, youth, and the responsible use of our natural resources.”
EIB Vice-President Ambroise Fayolle commented, “By targeting sustainable fisheries—a linchpin of Mauritania’s economy—we protect natural habitats while building resilient local value chains. Prioritizing women and young entrepreneurs embodies our dual environmental and social mandate under Global Gateway.”
European Commissioner for International Partnerships Jozef Síkela added, “This Global Gateway investment deepens our support for Mauritania’s blue economy and expands opportunities for women and youth, reinforcing the partnership I witnessed firsthand during my December mission.”
As a condition of financing, beneficiary fisheries companies must commit to best practices and pursue international certifications such as those from the Marine Stewardship Council, backed by tailored technical assistance. This agreement complements ongoing Team Europe efforts—including BMZ, KfW, and Mauritanian banks—to develop sustainable small-pelagic fisheries and fund coastal landing-site construction under the EFSD+ instrument.
