146 Mauritania’s Minister of Economy and Sustainable Development, Abdessalam Mohamed Saleh, and Malinne Blomberg, the African Development Bank’s Deputy Managing Director for North Africa, signed financing agreements in Nouakchott on Thursday. These agreements, totaling US$289.5 million, encompass vital energy sector projects in Mauritania, spanning solar power generation, transnational electricity interconnection, and rural electrification. The signing ceremony, attended by Minister of Energy, Oil, and Mines, Nany Ould Chrougha, as well as key figures from SOGEM and SOMELEC, marks a significant step towards enhancing Mauritania’s energy infrastructure. The financing comprises a mix of loans and grants aimed at implementing two critical projects: the 225 Kv Mauritania-Mali electricity interconnection and associated solar power plants development project (PIEMM), and the project to strengthen productive and energy investments for the sustainable development of rural areas (RIMDIR). Abdessalam Mohamed Saleh emphasized the importance of reliable electricity for sustainable economic growth, highlighting the government’s ambitious goal of ensuring universal access to electricity by 2030. He underscored the significance of leveraging the country’s energy resources, with the African Development Bank’s financing playing a pivotal role in this endeavor. Malinne Blomberg emphasized the transformative impact of the signed agreements, noting the potential for green growth, sustainable investment, and job creation. She emphasized the strengthening of bilateral relations with Mauritania and the positive outcomes expected from the projects. The PIEMM project aims to construct a 225 kV electricity interconnection between Mauritania and Mali under the Desert to Power Initiative. It includes the development of solar power plants and the establishment of a 1,373-kilometer high-voltage power line, with a transit capacity of 600 megawatts (MW) between the two countries. This initiative seeks to boost solar energy production and ensure universal access to electricity. On the other hand, the RIMDIR project, funded by the Sustainable Energy Fund for Africa (SEFA), involves rural electrification for 40 localities in southeastern Mauritania. It entails installing hybrid mini photovoltaic power plants and constructing connecting lines to link the power plants to the villages. Additionally, the project will support value-creating activities, particularly in the food cold chain and agri-food processing. These financing agreements represent the African Development Bank’s longstanding commitment to Mauritania’s development across various sectors, including agriculture, governance, water and sanitation, energy, mining, private sector, transport, and social initiatives. You Might Be Interested In UK Economy Showing Signs of Strength, Sterling Holds Ground UK Government Reduces Stake in NatWest, No Longer Controlling Shareholder Outstanding debt hits P14.1 trillion Goldman Sachs Forecasts Egypt-IMF Financial Deal to Reach $12 Billion Robinhood Enters UK Market, Paving the Way for Competitive Share Trading Platforms What is shadow banking? Unpacking the risks for China