• Mauritania, ITFC sign $1 billion framework to support trade

• Program targets energy supply, SMEs financing and agriculture productivity

• Initiative aims strengthen banking sector and economic competitiveness

Mauritania and the International Islamic Trade Finance Corporation (ITFC) signed a $1 billion framework agreement on Tuesday to support trade and key sectors of the economy.

The partnership will establish financing programs aimed at strengthening the country’s trade capacity. The initiative will focus on financing energy supplies, expanding access to credit for small and medium-sized enterprises (SMEs), strengthening the banking sector and boosting agricultural productivity.

The agreement also includes technical assistance programs designed to facilitate trade and improve the competitiveness of the Mauritanian economy.

Mauritanian Minister of Economic Affairs and Development Abdallah Ould Souleymane Ould Cheikh Sidia said the partnership “help mobilize critical financial resources to support national development priorities and foster sustainable economic growth.”

The initiative comes as Mauritania faces several structural challenges. The country’s electricity access rate stands at about 55%, according to official data, despite its significant renewable energy potential.

SMEs continue to face difficulties accessing financing, limiting job creation and economic diversification. In that context, the African Development Bank (AfDB) approved in 2025 a $5.5 million trade finance facility for the Générale de Banque de Mauritanie (GBM) to expand its capacity to support large companies, SMEs and women-led businesses.

The program aligns with President Mohamed Ould Cheikh El Ghazouani’s development agenda and the government’s action plan.

Ingrid Haffiny