Mauritania has secured a $1 billion Islamic trade finance agreement with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, to strengthen its energy supply and expand financing for small businesses.
Business Insider Africa The five-year framework agreement, covering 2026–2030, is designed to support Mauritania’s economic development by mobilising trade finance and technical assistance across key sectors of the economy.
itfc.africa-newsroom.com +1Under the deal, ITFC will provide funding and financial instruments to help finance energy commodity imports, improve banking sector liquidity, and expand credit access for small and medium-sized enterprises (SMEs).
The programme will also include trade finance facilities and confirmation lines for letters of credit to local banks, enabling businesses to import essential goods and strengthen commercial activity in the country.
Mauritania’s Minister of Economic Affairs and Development, Abdallah Ould Souleymane Ould Cheikh-Sidia, stated that the agreement will mobilise critical financial resources needed to support national development priorities and sustain economic growth.
Chief Executive Officer Adeeb Yousuf Al-Aama said the initiative demonstrates the organisation’s commitment to trade-driven development among member states, helping countries expand trade capacity and investment opportunities.
Mauritania has maintained a long-standing partnership with ITFC since 2008, with cumulative financing approvals exceeding $1.2 billion supporting several sectors of the country’s economy.
The new agreement is expected to strengthen Mauritania’s ability to secure energy supplies, support private-sector growth, and enhance trade competitiveness across the region.
Source: Business Insider Africa
