Mauritania has received $ 10.5 million in global funding from Kuwait for development projects, the Mauritanian News Agency (AMI) reported on Thursday.
The monies is meant for projects ranging from a drinking water to the development of oases in rural areas, said the MAI.
This funding will help strengthen efforts to combat poverty and unemployment in targeted areas, improve farmers’ incomes and keep people on their land of origin.
Part of the money is meant for preparatory studies of water, sanitation projects as well as decentralization and development in areas of eastern Mauritania.
The financing agreement was signed Thursday in Kuwait City by the Mauritanian Minister of Economy and Finance, Moctar Ould Diay, and the Director General, Chairman of the Board of Directors of the Arab Fund for Economic and Social Development (FADES), Abdellatif Youssef Al-Hamd.
The signing came on the sidelines of the annual meetings of Arab financial institutions held in Kuwait.
MOO/te/pn/as/APA