The Spanish government announced a €200 million financial package to support its investments in Mauritania, as part of strengthening economic and trade relations between the two countries. This announcement came following the conclusion of the first high-level meeting between Spain and Mauritania, which was organized by the Mauritanian-Spanish Business Council in the capital, Nouakchott.
The meeting was attended by Mauritanian President Mohamed Ould Cheikh El Ghazouani and Spanish Prime Minister Pedro Sánchez, along with a number of ministers, officials, and businessmen from both countries. The Mauritanian News Agency reported that the closing session witnessed the announcement of concrete pledges to strengthen bilateral cooperation, most notably the launch of a new digital platform called “Al Qantara,” which aims to facilitate direct communication between Mauritanian and Spanish economic actors and provide information and investment opportunities in a simplified digital format. In his speech, the Spanish Prime Minister explained that the €200 million financial package will be distributed across multiple sectors, including providing soft loans for environmentally friendly green projects, financing feasibility studies prior to launching investment projects, and providing financial instruments to cover risks and facilitate the implementation of major projects, particularly those related to energy transition and sustainable development.
Sánchez added that his country will appoint its first economic and trade representative in Mauritania starting September 1, with the aim of strengthening its economic presence and supporting the interests of Spanish companies wishing to invest in the Mauritanian market.
For his part, Mauritanian President Mohamed Ould Cheikh El Ghazouani emphasized during the meeting that his country offers a wide range of promising investment opportunities in vital sectors such as fishing, agriculture, livestock development, and extractive and mining industries, in addition to infrastructure projects such as roads, bridges, airports, and public buildings, as well as opportunities in the gas, minerals, and services sectors. This meeting and the announced agreements come within the context of Mauritania’s efforts to strengthen its regional economic position and attract more foreign investment to achieve sustainable development and diversify the national economy, especially in light of the economic reforms adopted by the government in recent years. Spain’s allocation of the financing package also reflects its commitment to deepening economic cooperation with Nouakchott and leveraging the significant potential offered by the Mauritanian economy in the fields of renewable energy, fishing, minerals, and infrastructure.
