The Mauritanian National Assembly has approved a bill related to a Spanish loan agreement worth €50 million. The loan will finance a resilience and community development project in the Senegal River basin. The project aims to improve access to integrated infrastructure and services that can adapt to climate change in targeted border areas.
The Minister of Finance, Codioro Moussa N'Guenore, who is also the interim Minister of Economic Affairs and Development, explained that the project involves investments to strengthen community resilience and integration. This will promote social cohesion, support regional integrated investments, and ensure project management and emergency response.
According to Minister N'Guenore, the loan, agreed upon in a convention signed on July 17, 2026, between Mauritania and the Spanish Institute of Public Credit, will be repaid over 30 years. This includes a five-year grace period and an annual interest rate of 1.42%. The loan's favorable conditions were highlighted by lawmakers during the bill's examination.
The parliamentarians praised the loan's low interest rate and lengthy grace period. However, they requested strengthened control and monitoring, as well as improved management. This can be achieved by establishing sectoral evaluation cells and result monitoring committees to guarantee optimal utilization of projects and financing.
The project focuses on enhancing access to integrated infrastructure and services that can adapt to climate change. Targeted areas include border regions within the Senegal River basin. The goal is to promote sustainable development and resilience in these communities.
The Spanish loan will support investments in regional integration, local economic development, and economic transition. It will also ensure effective project management and response to emergency situations. The Mauritanian government aims to improve living conditions and foster economic growth in the region.
The approval of this loan agreement marks a significant step in Mauritania's efforts to develop the Senegal River basin. The project is expected to have a positive impact on the region's economic and social development. The government will need to ensure effective implementation and monitoring to achieve the project's objectives.
Key points
- The Mauritanian parliament has approved a €50 million Spanish loan for a resilience and community development project in the Senegal River basin.
- The loan will be repaid over 30 years with a five-year grace period and an annual interest rate of 1.42%.
- The project aims to improve access to integrated infrastructure and services that can adapt to climate change in targeted border areas.
