SFD to provide US$100mn soft loan to develop water sector in Mauritania

SFDATRMar922Saudi Fund for Development (SFD) hosted the second meeting of the roundtable to provide water to Kiffa in Mauritania

Held at SFD’s Riyadh headquarters, the meeting discussed on the provision of clean water to Kiffa through the Senegal River. It concluded with SFD pledging a US$100mn soft loan to Mauritania.

SFD CEO, Sultan Al-Marshad, presided over the meeting in the presence of Mauritania's minister of Economic Affairs, Ousmane Mamadou Kane, and the minister of Water and Sanitation, Mohamed El-Hassan Ould Boukhris.  Also in attendance was the Kuwait Fund for Arab Economic Development, Abu Dhabi Fund for Development, the Islamic Development Bank, the Arab Fund for Economic and Social Development, and the OPEC Fund for International Development. These Funds are members of the Coordination Group of National and Regional Institutions. All attending members agreed on a financing plan, with the project's total value amounting to US$317mn. 

Through SFD, Saudi Arabia has offered nine grants to Mauritania worth more than US$151mn to establish development projects in the infrastructure, water, education, and health sectors. SFD has also provided 18 loans to finance and implement 16 projects across Mauritania, with a total value estimated at more than US$525mn.

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