The Mauritanian National Assembly adopted a bill on October 27, 2026, approving a loan agreement between Mauritania and Spain's official credit institute. The agreement, signed on July 17, 2026, will fund the Resilience and Community Development Project in the Senegal River Valley. The project aims to improve access to basic services and strengthen local administrative capacities nationwide.
The bill was presented by Finance Minister Codioro Moussa N'Guenore, who emphasized the project's alignment with President Mohamed Ould Cheikh El Ghazouani's program. The program prioritizes local development and decentralization, focusing on enhancing access to basic services and strengthening local administrative capacities. The loan will support the development of integrated services and infrastructure in targeted border areas.
The project consists of several components, including investing in community resilience and integration, promoting regional investments, and managing the project and regional information platform. The loan, valued at 50 million euros, will be repaid over 30 years with a 5-year grace period and an annual interest rate of 1.42%. The favorable terms were highlighted by deputies during the assembly.
Deputies welcomed the agreement's conditions, particularly the low interest rate and lengthy grace period. They also called for strengthened control and monitoring mechanisms to ensure optimal use of projects and mobilized financing. The implementation of sectoral evaluation cells and result monitoring committees was suggested to guarantee efficient project management.
The Resilience and Community Development Project aims to improve access to infrastructure and integrated services in the Senegal River Valley. The project will focus on enhancing resilience and community integration, promoting regional investments, and supporting local economic development. The agreement is expected to contribute to Mauritania's development goals.
The National Assembly's adoption of the bill marks a significant step towards implementing the project. The agreement is a result of collaboration between Mauritania and Spain, demonstrating the country's efforts to secure international support for its development initiatives. The project's success will depend on effective implementation and monitoring.
The project's outcomes will be closely monitored, and its impact on local communities and the country's development will be assessed. The Mauritanian government is expected to ensure transparent management of the project and the loan agreement. The project's success will contribute to the country's economic growth and development.
Key points
- The loan agreement is valued at 50 million euros with a 1.42% annual interest rate and a 30-year repayment period.
- The project aims to improve access to basic services and strengthen local administrative capacities nationwide.
- The agreement was signed on July 17, 2026, between Mauritania and Spain's official credit institute.
