ITFC Signs $1 Billion Deal to Boost Trade and Growth in Mauritania
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, has signed a US$1 billion Five-Year Framework Agreement with the Islamic Republic of Mauritania to support the country’s socio-economic development and strengthen trade capacity from 2026 to 2030.
The agreement was signed at ITFC headquarters in Jeddah by H.E. Dr Abdallah O. Souleymane O. Cheikh-Sidia, Mauritania’s Minister of Economic Affairs and Development, and Eng. Adeeb Yousuf Al Aama, CEO of ITFC, in the presence of H.E. Mohamed Lemine Dhehby, Governor of the Central Bank of Mauritania, alongside ITFC and Mauritanian officials.
The framework establishes a strategic partnership to mobilise financing and technical support for priority sectors of Mauritania’s economy, including energy, banking, and private sector development. It will facilitate financing for the import of energy commodities, provide trade finance facilities and confirmation lines for letters of credit to local banks, and support small and medium-sized enterprises (SMEs).
The agreement also includes technical assistance programmes aimed at enhancing agricultural productivity and promoting trade facilitation in key sectors.
Speaking at the signing, H.E. Dr Cheikh-Sidia emphasised that the agreement would help mobilise critical financial resources to support national development priorities and promote sustainable economic growth.
Eng. Al Aama said the partnership reflects ITFC’s continued commitment to trade-driven development. “This agreement will strengthen key sectors of Mauritania’s economy while expanding opportunities for trade and investment,” he added.
Since joining ITFC in 2008, Mauritania has been a longstanding partner, with cumulative approvals exceeding US$1.2 billion supporting strategic sectors and enhancing the country’s trade and development capacity.
