Nouakchott: Mauritania and the Kuwait-headquartered Arab Fund for Economic and Social Development (AFESD) have inked two accords valued at USD 1.4 billion aimed at enhancing the country's infrastructure. The agreements, signed on Monday, focus on vital road and water projects designed to bolster Mauritania's development.
According to Kuwait News Agency, the Mauritanian Ministry of Economy and Development announced that one agreement is dedicated to financing the construction of two key roads, which are expected to significantly improve transportation within the region. The second agreement, valued at USD 300,000, is intended to support water transfer and storage projects in the capital, Nouakchott.
The accords were formalized by Abdallah Cheikh-Sidia, Mauritania's Minister of Economy and Development, and Fozi Haneef, the chairman of AFESD. These projects are seen as crucial steps towards addressing infrastructure needs and promoting economic growth in Mauritania.