Our investment
Description of the investment.
Description of the investment.
The investment is a project development loan for feasibility studies on a coastal development project in Nouakchott. The loan will help Meridiam determine a viable business model to develop Mauritania's coastline, enhancing climate resilience and economic opportunities for its citizens.
Impact information
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
What?
| Impact |
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How?
| Primary | Secondary |
|---|---|
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Who?
| Stakeholder | Geography | Characteristics |
|---|---|---|
| Planet |
Global |
• Mauritania is listed as the world’s 20th most vulnerable country to climate change. • The World Bank illustrates how instances of droughts and floods are increasing in frequency as well as severity, with the amount of people being affected increasing. This investment is directly addressing the country’s need to improve the resilience of its urban centres to flooding and sea level rise. |
| Firms |
Global |
• Flooding, soil erosion and other climate risks are exacerbated by unplanned urban expansion and poor drainage systems; this is taking an increasingly heavy toll on the economy. • The coastline of Nouakchott is relatively underdeveloped, which affects the ability to attract economic activity along the coastline and spur business growth. |
| Consumers and residents |
Mauritania |
• Mauritania is ranked as the third worst affected sub-Saharan African country in terms of the human impact of climate-related events. • Nouakchott, home to approximately 1 million habitants, where over 50 per cent of the urban population lives, is particularly vulnerable to floods as nearly half of its surface is below sea levels. |
How much?
| Scale | Depth/Duration |
|---|---|
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The feasibility studies will support in understanding the makeup of the leases, underlying customers that will be serviced and therefore, the estimated scale of impact. So far, it is estimated that approximately 75,000 inhabitants in low-lying areas of Nouakchott will be protected against flooding and benefit from new drainage solutions. |
The feasibility studies include an environmental and social impact study covering all of the project’s development. This will provide clarity on the types of businesses that will lease the land and provide revenue streams that make the project feasible. Understanding the makeup of these leases and the underlying customers they are servicing will support BII in estimating the scale and depth of impact of climate adaptation and resilience. |
Contribution/additionality
| Contribution/additionality |
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Financial additionality: Lack of commercial debt capital available at all for the feasibility studies. |
Risk
Execution RiskChallenges in the execution of the Energy Performance Certificate (EPC) and project development could result in a negative demonstration effect in the market. This could reinforce investor and developer concerns over the feasibility of developing pure adaptation and resilience projects that are investable and bankable. |
Environmental and social information
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Environmental and social summary
A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
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Environmental and social risk
A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.
Environmental and social summary
This investment is classified as low E&S risk . The Project Development Loan is given to support project development activities such as feasibility studies and E&S impact assessment. There are no physical risks materialising from these development activities. BII is providing oversight to ensure deliverables are carried out in agreement with our required standards and leading to a compliant and bankable coastal restoration project. Safeguarding undertakings and a grievance mechanism framework have been agreed and apply for the project development phase.
Environmental and social risk
Low
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at enquiries@bii.co.uk
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Key facts
- First published
:
When the investment was first published on the website database.
- March 2025
- Last updated
:
When the last quarterly update of the website database occurred.
- March 2025
- Project number
:
An identifier number shared by investments in the same project.
- D6625
- Status
:
The current status of the investment (green flag for active and red flag for exited).
- Active
- Region
:
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- West Africa
- Country
:
The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.
- Mauritania
- Sector
:
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Manufacturing
- Sub sector
:
The sub-sector that the investment is made into; this provides a more granular level of detail than the ‘sector’ information
- Real Estate Management & Development
- Investment type :
- Debt
- Start date :
- November 2024
- Amount :
- $1.52m
- Currency of investment :
- EUR
- Domicile
:
The company or investment fund’s place of incorporation.
- Mauritania
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Climate finance
:
Indicates whether the investment is climate finance qualified or partially climate finance qualified and the type of climate finance (adaptation, mitigation or both). We define climate finance using the multilateral development bank (MDB) and the International Development Finance Club (IDFC) Common Principles climate finance methodology. See Common Principles for Climate Mitigation Finance Tracking and Common Principles for Climate Change Adaptation Finance Tracking. We provide the climate finance qualification and type for commitments from 2020 onwards, which is when we launched our Climate Change Strategy.
- Fully qualified
- Climate finance type
:
Mitigation: Indicates investments which, by avoiding or reducing GHG emissions or increasing GHG sequestration, contributes substantially to the stabilisation of GHG concentrations in the atmosphere – at a level which prevents dangerous anthropogenic interference with the climate system consistent with the long-term temperature goal of the Paris Agreement
Adaptation: Indicates investments aimed at preventing or reducing the risks or vulnerabilities posed by climate change and increasing climate resilience. This includes both adapted activities and enabling activities to manage and reduce physical climate risks
Dual: Indicates investments directed towards activities contributing to both climate change mitigation and climate change adaptation and meeting the respective criteria for each category
The climate finance type of the investment is determined at time of commitment.
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- Adaptation
- First published
