OPEC Fund and Mauritania Launch Groundbreaking Initiative to Enhance Renewable Energy Development

The OPEC Fund for International Development (OPEC Fund) and the Islamic Republic of Mauritania have signed a landmark Country Partnership [1] Framework Agreement. The agreement, spanning from 2025 to 2027, earmarks US$120 million in new development financing to support Mauritania’s key development priorities.

The funding will finance critical projects promoting renewable energy, clean water, food security, improved transport, and clean cooking. Additionally, the OPEC Fund is pledging up to US$500,000 in grants for capacity-building, project preparation, and technical assistance.

During a visit to Nouakchott, OPEC Fund President Abdulhamid Alkhalifa emphasized the importance of this partnership. “We are proud to help improve the lives of people and communities for a more resilient future,” he said. “Our commitment to Mauritania is focused on bolstering key sectors of the economy. Technical assistance and strong project preparation are vital to mobilize additional development funding, enable public-private partnerships (PPPs), and attract private sector investment.”

The partnership underscores the longstanding relationship between the OPEC Fund and Mauritania, with more than US$250 million in loans provided to the country for various infrastructure and development projects to date. The new agreement aims to support Mauritania’s objectives of advancing clean energy, food security, water and sanitation, and sustainable and inclusive development.

Joint initiatives also aim to strengthen Mauritania’s PPP regulatory framework and boost private sector investment. The OPEC Fund delegation, led by President Alkhalifa, met with Mauritanian President Mohamed Ould Ghazouani, Prime Minister El Moctar Ould Djay, and other government officials to discuss the implementation of the Country Partnership Framework Agreement and explore opportunities for further cooperation.

Industry experts have welcomed the partnership, highlighting its potential to improve energy efficiency, diversify energy sources, and ensure grid reliability. The agreement is seen as a transformative step in Mauritania’s energy sector, providing a comprehensive regulatory framework that supports the implementation of renewable energy projects.

Sources:

[1] OPEC Fund and Mauritania Forge Landmark Partnership to Boost Renewable Energy and Development. https://solarquarter.com/2025/02/03/opec-fund-and-mauritania-forge-landmark-partnership-to-boost-renewable-energy-and-development/

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