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04 February 2020
ECONOMY

UAE allocates $2 billion for investment, development projects in Mauritania

Mauritania stated that the generous support from the UAE will contribute to create economic and social growth and increase living standards

Mauritania is expected to become a natural-gas exporter following large offshore discoveries by major oil and gas explorers in 2019/Bloomberg

by Kudakwashe Muzoriwa

The UAE has allocated $2 billion in investment, development projects and soft loans for Mauritania, a sum that equals roughly a third of the West African country’s GDP.

The announcement came after President Mohamed Ould Ghazouani’s first state visit to an Arabic country since assuming office in June 2019.

According to Bloomberg, while the arid African nation with a population of about four million people is among the region’s poorest despite rich deposits of gold, iron and copper, it is expecting to become a natural-gas exporter following large offshore discoveries by major oil and gas explorers in 2019.


RELATED STORIES: UAE Mauritania President Mohamed Ould Ghazouani


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