Mauritania roundtable raises $2bln pledge from the Arab Coordination Group in development funding
Vienna: Mauritania's national development program will see a strong boost with a US$2 billion pledge made by the Arab Coordination Group (ACG) at a high-level roundtable held in Vienna, Austria. The event was chaired by the President of Mauritania, Mohamed Ould Cheikh El Ghazouani, and was hosted by the OPEC Fund for International Development in the framework of the Annual Meeting of the ACG Heads of Institutions.
OPEC Fund President Abdulhamid Alkhalifa said: 'We are strongly committed to play an active role in the implementation and success of Mauritania's ambitious development program. With our pledge we are mobilizing our collective capabilities to translate ambition into action and bring about positive change in the lives of the people of our partner country Mauritania.'
Speaking on behalf of the Arab Coordination Group, the President of the Islamic Development Bank (IsDB), H.E Dr. Muhammed Al Jasser, said: 'Our funding will be directed to vital priority sectors, including energy, water, transportation and digital infrastructure, in order to stimulate economic growth and achieve comprehensive and sustainable development in the country.'
The pledge followed an opening address by President El Ghazouani who reaffirmed Mauritania's commitment to institutional reform, enhanced transparency and improved governance. He noted that these efforts, combined with macroeconomic stability and modernized public administration, are laying the foundation for long-term, inclusive growth. The President also underscored the country's ambition to become a competitive investment destination through streamlined investment procedures and strengthened national security.
During the roundtable, the government of Mauritania presented a portfolio of priority investment projects. Among them was an initiative to hybridize thermal power plants and enhance existing hybrid facilities with advanced energy storage solutions. Two strategic water infrastructure projects were also featured: one at the Taraf Al-Mahroud site and another in the Karakoro Basin. In the transport sector, the rehabilitation of the Nouakchott–Nouadhibou and Rosso–Boghé corridors was highlighted as vital to improving trade and connectivity.
The ACG pledge will cover the period 2025-2030. Delivery will be 'closely coordinated with the government and international partners,' IsDB President Al Jasser announced. The roundtable preceded the OPEC Fund Development Forum on June 17, where Mauritania's President El Ghazouani will deliver an opening address as guest of honor.
OPEC Fund President Alkhalifa underscored the institution's commitment to supporting Mauritania. During a visit to the country in January he signed a Country Partnership Framework Agreement for the period 2025-2027. Under this strategic cooperation, the OPEC Fund will focus on key sectors such as renewable energy, water, food security, transport and clean cooking. The President said: 'To be successful, development needs to attract investment. To be sustainable, however, development also needs to generate tangible results for the people. The government's strategy prudently links both.'
The Arab Coordination Group is the world's second-largest development finance group, united around shared values of South-South cooperation and solidarity. Last year, the ACG extended US$19.6 billion collectively to fund nearly 650 operations in more than 90 countries.
About the Arab Coordination Group (ACG)
The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising ten development funds, ACG is the second-largest group of development finance institutions in the world and works across the globe to support developing nations and create a lasting, positive impact.
The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.
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