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    Mauritania-Economy

    Afreximbank pledges $1.5b for Mauritanian economy

    APA-Nouakchott (Mauritania)

    Benedict Okay Oramah, president of the African Export-Import Bank (Afreximbank), has pledged $1.5 billion to finance Mauritania’s public and private sectors.

    Out of this amount, $1 billion will go to public-private partnership for the construction of industrial parks, as well as energy and gas projects in the country.

    This was announced by Oramah at a press conference on Monday evening in Nouakchott, at the end of a two-day visit to Mauritania by a delegation from the Cairo-based bank.

    The purpose of the visit was to explore opportunities in Mauritania, and to seek a framework for bilateral cooperation between Afreximbank and the Central Bank of Mauritania.

    The Afreximbank president also said the remaining half billion will be directed to primary banks in Mauritania for granting credit lines to local businesses.

    Beneficiary companies must be primarily engaged in the processing of raw materials that create added value, he added.

    Oramah also pointed out that Afreximbank has, since its creation in 1993, granted more than $400 million in credit lines to Mauritanian banks.


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