Mauritania and the OPEC Fund for International Development have signed two financing agreements worth $195 million.
The Mauritanian Ministry of Economic Affairs and Development announced that the agreements were signed by Minister of Economic Affairs Abdallah Ould Souleymane Ould Cheikh Sidia and the President of the OPEC Fund for International Development, Abdulhamid Alkhalifa, on the sidelines of the OPEC Fund Development Forum, currently being held in Vienna.
The OPEC Fund Development Forum has emerged as a key platform for advancing international development cooperation, bringing together heads of state, policymakers, development institutions, and private-sector leaders to address some of the world’s most pressing challenges.
The forum catalyzes forging high-level partnerships, mobilizing capital for critical development priorities, and strengthening South-South cooperation in response to evolving global economic, social, and environmental challenges. Through dialogue and collaboration, participants work to identify practical solutions and financing mechanisms that can accelerate sustainable development across emerging and developing economies.
According to the statement, the first agreement establishes a country partnership framework for the 2026–2029 period, with a financing envelope of up to $180 million.
Under the framework, funding will be directed toward developing climate-resilient infrastructure projects, strengthening food security systems, and supporting value chains in rural areas. The measures are expected to promote long-term economic resilience, support rural livelihoods, and contribute to sustainable development across the participating region.
The Board of Governors of the OPEC Fund for International Development recently convened for its 196th meeting, where it approved a new portfolio of development projects aimed at advancing economic growth and improving living standards across multiple regions.
