Summary:

On 2 February 2025, the Organization of the Petroleum Exporting Countries (OPEC) Fund and the Mauritanian government signed a Partnership Framework Agreement including $120 million in financing during the period of 2025-2027. 

The agreement includes an additional $500,000 in grants for capacity-building, project preparation and technical assistance. The financing is set to support renewable energy projects, clean water, food security and improved transport. 

The President of the OPEC Fund, Abdulhamid Al-Khalifa stated that the funding and technical assistance laid out in the agreement will be “vital to mobilize additional development funding, enable public-private partnerships (PPPs), and attract private sector investment.” 

The agreement with OPEC comes two months after the $150 million loan agreement with the African Development Bank (AfDB) to support the mining sector by supporting the Mauritanian government-owned Société Nationale Industrielle et Minière (SNIM) to increase its logistics capacity with new transport locomotives.  

Outlook: 

The recent deal with OPEC is in line with Mauritania’s efforts to seek cooperation with international and regional creditors to support its development plans starting with strategic energy and mining sectors. 

With new discoveries of offshore gas reserves in Mauritania and the start of production in the Greater Tortue Ahmeyim site, international and intergovernmental organizations like OPEC and the AfDB are seeking partnership with Mauritania to benefit from the country’s potential.  

While OPEC intends to pioneer support to energy sector development in underdeveloped countries, other African partners are searching for deals with Mauritania as it is likely to become an energy hub that will enable and facilitate exports to other continents in the future. 

Mauritania will continue profiting from international support for its development plans to promote infrastructure and services as long as it can effectively manage threats from armed groups operating in the region along its eastern borders. 

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