Mauritania's Minister of Economic Affairs and Development, Mohamedou Ould Lemhimeid, recently concluded a series of meetings in Madrid, Spain. The meetings, which took place on Tuesday and Wednesday, focused on expanding the volume of concessional financing directed to Mauritania and attracting more Spanish investments. These discussions were held on the sidelines of the "Sustainable Development Goals Financing Dialogue" forum organized by the Spanish government and the United Nations Development Programme.
During his meetings, the Minister discussed with Victoria Torres Gomez, the General Director of the Spanish Agency for International Cooperation for Development, the expansion of the portfolio of concessional financing and its direction towards priority sectors. They also reviewed the progress of the Senegal River Basin development project and ways to mobilize additional resources to accelerate its implementation. Gomez expressed her agency's readiness to continue supporting structural projects in Mauritania.
On Wednesday, Ould Lemhimeid presented the available investment opportunities and incentives granted to foreign investors to Jose Luis Ponce, the President of the Spanish Chamber of Commerce. He also discussed the recent amendments to the investment code. Ponce expressed the Chamber's willingness to encourage Spanish companies to expand their presence in the Mauritanian market. Mauritania's Ambassador to Madrid, Zeineb Bent Ahmed Salem, was also present at the meetings.
In a high-level ministerial session on Wednesday, the Minister stated that development financing "is not limited to mobilizing more financial resources," but also requires better coordination between partners and efficient use of resources. These meetings come after the Mauritanian Parliament approved a Spanish loan agreement worth 50 million euros to finance a climate resilience and development project in the states adjacent to the Senegal River.
The meetings also follow a business forum held in Nouakchott in July 2025, which brought together over 250 economic institutions from Mauritania and Spain. Spain is one of Mauritania's main economic partners in Europe, particularly in the areas of fishing, energy, and development cooperation. The two countries have been strengthening their economic ties in recent years.
The concessional financing and Spanish investments are expected to support Mauritania's development projects, particularly in the areas of climate resilience and sustainable development. The country's economy has been facing challenges, and the government is seeking to diversify its partnerships and attract more investments. The meetings in Madrid are seen as a step in this direction.
The discussions between the Mauritanian Minister and the Spanish officials reflect the growing cooperation between the two countries. The two sides have expressed their commitment to strengthening their economic ties and supporting development projects in Mauritania. The outcome of the meetings is expected to have a positive impact on Mauritania's economy and development prospects.
Key points
- Mauritania's Economy Minister Mohamedou Ould Lemhimeid concludes meetings in Madrid to discuss financing and Spanish investments.
