Mauritania secures $32.9 Kuwaiti financing for road project
Tuesday, 12 November 2019 10:57
The Kuwait Fund for Arab Economic Development (KFAED) granted $32.9 million to Mauritania for the construction of the Néma-Nbeiguit Lahwach road. The related agreement was signed on November 8, in Nouakchott between the Minister of Economy and Industry, Sheikh El Kebir Moulay Taher, and the Deputy Director of Operations within the fund, Merwane Abdallah El Ghanem.
According to the Minister, this 150 km long road will significantly open up the eastern part of the country, offering excellent economic and social opportunities. Merwane Abdallah El Ghanem, for his part, expressed his satisfaction with this new funding, which consolidates the good bilateral relations between Mauritania and Kuwait.
KFAED began its activities in Mauritania in 1975 with the conclusion of a first loan agreement with the government on the road maintenance project.
Romuald Ngueyap
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
Zimbabwe Eases Lithium Export Ban With Quotas, Eyes Local Processing Shift
12:24
-
Namibia and Angola Advance Power Link to Strengthen Regional Energy Supply
12:02
-
Botswana Turns to Oman to Expand Solar Power and Strengthen Fuel Supply
11:37
-
Visa launches sixth cohort of its Africa fintech accelerator
11:34
-
Africa’s Borrowing Costs Soar 91%, Squeezing Public Finances
11:07
-
Koa Academy Unveils Five-Week Entrepreneurship Challenge for Young South Africans
10:13
-
Rabat to host Morocco Gaming Expo in May 2026
10:09
-
Financial sector leaders gather in Lomé for inaugural risk forum
10:06
-
Parlym selected for engineering studies on $4 bln Yoyo-Yolanda gas project
10:02
-
Uganda to launch first national internet exchange to cut costs, keep traffic local
04:17
Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
Six major producers receive export quotas under tighter controls Policy aims to curb fraud and regulate lithium shipments Government pushes firms to...
Two agreements signed to develop cross-border power interconnection Project aims to secure Namibia’s electricity supply Line will link both countries...
Oman supports 500 MW solar plant with battery storage Fuel storage deal aims to strengthen energy security Botswana still relies heavily on coal and...
Average borrowing costs rose from 2.7% to 5.1% between 2020 and 2024 “Blend” countries hit hardest by rising global interest rates Higher debt...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...