The Mauritanian National Assembly has approved a bill allowing the ratification of a €50 million loan agreement with the Spanish Official Credit Institute. The loan will finance the "Resilience and Collective Development" project in the Senegal River basin. The agreement was signed on July 17, 2026, and has a 30-year repayment period, with five years of grace and an annual interest rate of 1.42%.
The project targets the border regions of four states: Attaraz, Lebrakna, Corcorol, and Kidi Magha. It aims to improve access to basic infrastructure and services that can adapt to climate change, such as floods, soil erosion, and heatwaves. The project includes components such as transportation networks, trade and mobility support, community facilities, and agricultural and commercial activities.
The loan agreement was presented to parliament by the Minister of Finance, who is also responsible for economic affairs. The Economic Affairs Committee of the Assembly discussed the bill earlier. During the debate, MPs welcomed the favorable loan terms, particularly the low interest rate and long grace period. They also called for strict monitoring of the project's implementation and the establishment of evaluation cells and committees to follow up on the results.
One MP, Habi Rabah, expressed reservations about taking on new loans. The Council of Ministers had approved the bill in late July as part of a regional program covering both banks of the Senegal River. The authorities have not yet announced the allocation of the funds to specific components or states.
The approved law will now undergo constitutional procedures before being issued and the agreement comes into effect. The project is expected to enhance the resilience of communities in the region and promote collective development. The Spanish loan is seen as a significant contribution to Mauritania's development efforts.
The "Resilience and Collective Development" project is a key initiative aimed at addressing the challenges posed by climate change in the Senegal River basin. The project will help improve the living conditions of communities in the region and promote sustainable development. The Mauritanian government has expressed appreciation for the Spanish support.
The approval of the loan agreement marks a significant step forward in the implementation of the project. The Mauritanian parliament's approval of the loan demonstrates the country's commitment to addressing the challenges posed by climate change and promoting sustainable development. The project is expected to have a positive impact on the lives of communities in the region.
Key points
- The Mauritanian parliament has approved a €50 million Spanish loan for a development project in four states along the Senegal River.
- The project aims to improve access to basic infrastructure and services that can adapt to climate change.
- The loan has a 30-year repayment period, with five years of grace and an annual interest rate of 1.42%.
