UAE Allocates $2 Billion For Investment In Mauritania

Via The Middle East Monitor, a report on a recent announcement of UAE investment in Mauritania:

The UAE announced, Sunday, that it has allocated $2 billion to Mauritania for the implementation of investment and development projects, and provided soft loans, according to the official Emirates News Agency (WAM).

The news agency stated that the initiative comes in implementation of the directives of the President of the Emirates, Khalifa bin Zayed, and the Crown Prince of Abu Dhabi, Mohammed bin Zayed.

On Saturday, the Mauritanian President, Mohamed Ould Ghazouani, started a visit to the Emirates, which e duration was not announced, and during which he will meet with several Emirati officials.

READ: Emirates, Etihad to stop most China flights as UAE announces suspension

Earlier on Monday, the two countries exchanged documents on several memoranda of understanding and joint agreements, including a memorandum of understanding on mutual visa exemption, and a memorandum of understanding for technical and military cooperation.

Last week, the Mauritanian Prime Minister, Ismail Ould Bedde Ould Cheikh Sidiya, said that his country’s economy “achieved good results last year, as the growth rate reached 6.9 per cent in 2019,” with a slow down at 6.3 per cent in 2020.

Mauritania is trying to boost growth rates above 7 per cent, after years of sharp decline, as has decided in 2018 to involve the private sector in government strategic projects.

This entry was posted on Sunday, February 9th, 2020 at 6:09 am and is filed under UAE.  You can follow any responses to this entry through the RSS 2.0 feed.  You can leave a response, or trackback from your own site. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.