The OPEC Fund for International Development (OPEC Fund) and the Islamic Republic of Mauritania have signed a landmark agreement, the Country Partnership Framework Agreement, to collaborate on significant development initiatives for the period 2025-2027.
As part of this agreement, a total of $120 million in new development financing has been allocated, with a focus on addressing the country’s key development priorities.
Dr. Abdulhamid Alkhalifa President OPEC Fund
“We are proud to help improve the lives of people and communities for a more resilient future. 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 funding will finance critical projects that contribute to projects promoting renewable energy, clean water, food security, improved transport, and clean cooking.
In addition, the OPEC Fund is pledging to provide up to $500,000 in grants for capacity-building, project preparation, and technical assistance.
Last year, the OPEC Fund signed its first loan agreement with Montenegro, providing a $51 million (€50 million) loan to strengthen fiscal sustainability and the green transition in the southeast European country.
The Resilient Fiscal and Sustainable Development Program will help Montenegro improve its public financial management, support climate action, and promote sustainable practices in waste management, forestry, and renewable energy.
OPEC Fund
The OPEC Fund is an international development finance institution that was established in 1976 by member countries of the Organization of the Petroleum Exporting Countries (OPEC). Its primary mission is to provide financial assistance for development projects in low- and middle-income countries. The Fund focuses on key sectors such as infrastructure, energy, healthcare, education, and agriculture.
