EIB grants €5 million for SME financing in Mauritius

Dec 21, 2011

The European Investment Bank (EIB) has granted €5 million to Mauritius Leasing that will be used to finance small and medium-sized enterprises' (SMEs') projects through leasing.

The European Investment Bank (EIB) has granted €5 million to Mauritius Leasing that will be used to finance small and medium-sized enterprises' (SMEs') projects through leasing.

"This line of credit from the European Investment Bank will enable us to fulfil the medium term asset finance needs of our clients, particularly in the manufacturing, construction, agro industry and export-oriented sectors, in line with the country’s development strategy,” said Mauritius Leasing's Chief Executive Officer Ashraf Esmael, quoted by Orange.mu.

Contributing to the development of the private sector and financial services in Mauritius, the initiative should encourage the growth of SMEs and the Mauritian economy through job creation.

Mr Esmael added SMEs contribute 37 percent of the gross domestic product and employ 250,000 people.

Over 25 the past years, Mauritius Leasing has granted more than €26.5 million to businesses involved in activities within the island or in export, Le Mauricien newspaper reports.ADNFCR-2976-ID-801246809-ADNFCR