Mauritania - Financial Infrastructure Modernization Support Project (PAMIF) — Mauritania

Overview

The Financial Infrastructure Modernization Support Program (PAMIF), designed on the basis of the recommendations of the Financial Stability Assessment (FSAP 2015), is considered as a starting point for the establishment of the basic infrastructure of the financial sector in Mauritania. The project will contribute to creating the necessary conditions for a sustained economic recovery, in particular by improving the financing of economic activities to further support the development of the private sector, the main engine of growth. The project is divided into two main components. The first component is aimed at modernizing the national payments system and setting up an information system at the Central Bank. The second component, relating to the modernization of foreign exchange operations and strengthening the stability of the financial sector, will make it possible to support the implementation of the exchange rate policy through the installation of an interbank market trading room change; and the establishment of supervision tools for the banking and microfinance sectors, which have seen significant development in recent years. The total cost of PAMIF is estimated at UA 4 million (UA 3.6 million from ADF and UA 0.4 million from the national counterpart).