(Ecofin Agency) - The United Arab Emirates announced plans to invest $2 billion in development projects in Mauritania. The announcement was made on the sidelines of a recent visit by Mauritanian President Mohamed Ould Ghazouani to the Crown Prince of Abu Dhabi Mohammed bin Zayed Al Nahyan.
According to Emirates News Agency, the financing will be provided as concessional loans. “Our countries have a long history of strong relationships. Today, we have many opportunities to deepen these ties, to strengthen cooperation in various fields and to consult each other on development issues in the region,” said Prince bin Zayed.
Despite its wealth of natural resources, Mauritania is one of the poorest countries on the continent, especially with the escalating violence due to terrorism in recent years.
Moutiou Adjibi Nourou