VIENNA, 2nd February, 2025 (WAM) - The OPEC Fund for International Development (OPEC Fund) and the Islamic Republic of Mauritania have signed a landmark Country Partnership Framework Agreement to cooperate on key development initiatives during the period 2025-2027, earmarking US$120 million in new development financing focusing on the country's development priorities. The funding will finance critical projects that contribute to projects promoting renewable energy, clean water, food security, improved transport and clean cooking. In addition the OPEC Fund is pledging to provide up to US$500,000 in grants for capacity-building, project preparation and technical assistance.
OPEC Fund President Abdulhamid Alkhalifa said during a visit to the capital Nouakchott: "We are proud to help improve the lives of people and communities for a more resilient future. Our commitment to Mauritania is focused on bolstering key sectors of the economy. Technical assistance and strong project preparation are vital to mobilize additional development funding, enable public-private partnerships (PPPs) and attract private sector investment."
