Mauritania gets $43.7M loan from AFESD to develop water and power projects
Friday, 24 March 2017 18:19
The Arab Fund for Economic and Social Development (AFESD) provided Mauritania a loan facility of $43.7 million. The funding will serve to improve water and energy supply in the country.
The agreement related to the facility was signed on March 22 by Mauritania’s minister of economy and finance, Moctar Ould Diaye, and AFESD’ president Hassab Rassoul Al Abid. In regards to the funding, it aims to help “overcome the deficit in drinking water supply in Aioun and Digueny in the Eastern part of the country," Moctar Ould Diaye told news website 360 Afrique. As for energy, the official added that the grant “will be used to produce sustainable and cheap electricity for the Northern region where many mines are in addition to reinforcing power transmission network in the area, by installing a 225KV high-tension power line between Nouakchott and Zouerate, passing through Akjoujt and Atar”.
For a decade now, the AFESD has been supporting the government of Morocco in various sectors such as health, telecommunications, infrastructures, energy and mining.
Claude Biao
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