Mauritania signed a $1 billion framework agreement on Tuesday with the International Islamic Trade Finance Corporation (ITFC) to support trade development and key sectors of the national economy, Ecofin Agency reported.
The partnership will introduce financing programs aimed at strengthening the country’s trade capacity, with a focus on funding energy supplies, expanding access to credit for small and medium-sized enterprises (SMEs), reinforcing the banking sector and increasing agricultural productivity.
The agreement also includes technical assistance programs intended to facilitate trade and improve the competitiveness of the Mauritanian economy.
Mauritanian Minister of Economic Affairs and Development Abdallah Ould Souleymane Ould Cheikh Sidia said the partnership “help mobilize critical financial resources to support national development priorities and foster sustainable economic growth.”
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The initiative comes as Mauritania continues to face structural challenges. The country’s electricity access rate is about 55%, according to official data, despite its significant renewable energy potential.
SMEs also struggle to obtain financing, limiting job creation and economic diversification. In 2025, the African Development Bank approved a $5.5 million trade finance facility for Générale de Banque de Mauritanie (GBM) to strengthen its ability to support large companies, SMEs and women-led businesses.
The program aligns with the development agenda of President Mohamed Ould Cheikh El Ghazouani and the government’s broader economic action plan.
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Image Credit: The Kenyan Wall Street
