Mauritania has secured a $1 billion trade finance agreement with the International Islamic Trade Finance Corporation, a member of the Islamic Development Bank Group, to strengthen key economic sectors and expand the country’s trade capacity.
The five-year framework agreement (2026–2030) aims to support Mauritania’s economic diversification, enhance energy security, and improve access to trade finance for businesses.
Strategic Agreement Signed in Jeddah
The agreement was signed during an official visit by Abdallah O. Souleymane O. Cheikh-Sidia to the Islamic Development Bank Group headquarters in Jeddah, Saudi Arabia.
The deal was finalized with Adeeb Yousuf Al Aama, alongside senior representatives from both institutions.
Officials say the framework will mobilize financial resources and technical support to strengthen key sectors of Mauritania’s economy.
Focus on Energy Security and Trade Expansion
Energy security forms a central pillar of the agreement. The financing will help Mauritania secure the import of essential energy commodities, ensuring stable supplies for industries and households.
The framework will also strengthen the country’s financial system by expanding trade finance access for local banks, including confirmation lines for letters of credit. This will allow Mauritanian businesses to participate more actively in international trade and global supply chains.
Supporting SMEs and Private Sector Growth
A major component of the agreement is the promotion of private sector development, particularly for small and medium-sized enterprises (SMEs).
Improved access to trade finance will allow local entrepreneurs and manufacturers to expand operations, increase exports, and create jobs.
The partnership also includes technical assistance programs aimed at boosting agricultural productivity and improving trade facilitation, helping Mauritania unlock greater value across its economic sectors.
Strengthening Long-Term Economic Development
According to Minister Cheikh-Sidia, the agreement aligns with Mauritania’s national development priorities and represents a strategic effort to build a more resilient and diversified economy.
ITFC CEO Adeeb Al Aama said the partnership demonstrates the institution’s commitment to supporting member countries through trade-driven economic development, enabling investment and strengthening critical sectors.
Longstanding Partnership With ITFC
Mauritania has partnered with the ITFC since 2008, benefiting from various financing and development initiatives.
To date, the corporation has approved more than $1.2 billion in financing for projects in Mauritania, supporting areas such as energy imports, trade facilitation, and economic development programs.
As Mauritania continues to strengthen international partnerships and expand trade opportunities, agreements like this highlight how targeted financing and development cooperation can accelerate economic growth across Africa.