Spain allocates $232.03 million to support investments in Mauritania

The Spanish government announced a €200 million ($232.03 million) financial package to bolster its investments in Mauritania, along with the launch of the digital platform “Kantara” aimed at fostering direct connections between economic players in both countries.

The announcement came following the conclusion of the first high-level session between Mauritania and Spain, which included the Mauritanian-Spanish Business Council, and was attended by Mohamed Ould Cheikh El Ghazouani, President of Mauritania, and Pedro Sánchez, Prime Minister of Spain.

According to the Mauritanian Information Agency, the closing session featured pledges and investment commitments.

In his remarks, Sanchez said the €200 million package will be channelled into loans for green projects, feasibility studies, risk mitigation instruments, and project implementation tools, particularly in the field of energy transition.

He also announced that Spain will appoint its first economic and trade representative in Mauritania as of 1st September.

President El Ghazouani emphasised that Mauritania offers a wide range of promising investment opportunities in key sectors such as fisheries, agriculture, livestock development, extractive industries, infrastructure - including roads, bridges, airports, and public buildings - as well as in services, gas, and mining.

Earlier the Opec Fund for International Development (Opec Fund) and the Islamic Republic of Mauritania have signed a landmark Country Partnership Framework Agreement to cooperate on key development initiatives during the period 2025-2027, earmarking $120 million in new development financing focusing on the country’s development priorities.

The funding will finance critical projects that contribute to projects promoting renewable energy, clean water, food security, improved transport and clean cooking. In addition the Opec Fund is pledging to provide up to $500,000 in grants for capacity-building, project preparation and technical assistance.

Opec Fund President Abdulhamid Alkhalifa said during a visit to the capital Nouakchott: “We are proud to help improve the lives of people and communities for a more resilient future. Our commitment to Mauritania is focused on bolstering key sectors of the economy.”

“Technical assistance and strong project preparation are vital to mobilise additional development funding, enable public-private partnerships (PPPs) and attract private sector investment.”

The Ministry of Economy and Tourism has signed two Memoranda of Understanding with the Spanish Patent and Trademark Office and the Moroccan Industrial and Commercial Property Office, aimed at strengthening cooperation in the development of intellectual property (IP) in the UAE in line with international best practices.

The MoUs were signed in the presence of Abdullah bin Touq Al Marri, Minister of Economy and Tourism, during the UAE delegation’s participation in the Sixty-Sixth Series of Meetings of the Assemblies of the Member States of the World Intellectual Property Organisation (WIPO) in Geneva.

The agreements cover several strategic areas, including digital transformation, talent development, and enhanced coordination in industrial property and patent registration. They also seek to harness advanced technologies, such as artificial intelligence, to support patent search and classification processes.

Minister Bin Touq highlighted the UAE’s continued commitment to building a comprehensive IP ecosystem and fostering global partnerships. He noted that collaboration with Spain and Morocco represents a significant milestone in exchanging technical knowledge, streamlining registration procedures, and adopting modern compliance standards. Earlier the UAE Ministry of Investment and UN Trade and Development (UNCTAD) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in investment policymaking, research, and sustainable economic development. This partnership underscores the UAE’s commitment to harbouring an investment-friendly environment and reinforcing its role as a global business hub; and aligns with UNCTAD’s commitments to ssupport countries to effectively access the benefits of a globalised economy.

Through this collaboration with UNCTAD, the UAE is advancing the vision outlined in the National Investment Strategy 2031, strengthening its position as a premier global investment hub by capitalising on its world-class infrastructure, ease of doing business, progressive regulatory frameworks and strategic geographical location.

The MoU was signed by Mohammad Abdulrahman Alhawi, Under-Secretary at the UAE Ministry of Investment, and Nan Li Collins, Senior Director of Investment and Enterprise at UNCTAD.

The UAE Ministry of Investment and UNCTAD will establish a framework for cooperation to enhance investment policymaking, facilitate capacity-building initiatives, and promote sustainable economic growth.

WAM