Minister of Economy Signs Financing Agreement With MCC President

On 7 January, in Washington, USA, Mr. Sid’Ahmed Ould Bouh, the Minister of Economy and Finance, signed the first financing agreement between our country and the Millennium Challenge Corporation (MCC) with its President and CEO, Ms. Alissa Albright.

The agreement covers grant financing under the Threshold Program component for US$27 million for reforms in the energy sector (governance, network management, and infrastructure), support for the regulatory authority’s capacities, support for the resilience approach in development projects, and financing for the environmental dimension, social affairs, and the private sector.

In his speech, the Minister thanked the MCC and praised the excellent relations between the Islamic Republic of Mauritania and the United States of America.

He also expressed his confidence that the Mauritanian and MCC technical teams would continue their efforts to accelerate the next phase of the cooperation and partnership agreement, which will amount to $500 million in grants for structural development projects.

The Minister highlighted the important reforms implemented by the Mauritanian government since President Mohamed Ould Cheikh El-Ghazouani’s re-election for a second term, notably in the fields of democracy, governance, and the high quality of the legal base, where the human rights system has developed, and political parties operate without problems.

He also praised the economic and social reforms that have improved citizens’ access to quality services.

For her part, the MCC President praised the Mauritanian government’s efforts to promote the country’s economic and social development.

She reiterated the US and MCC’s readiness to continue supporting the government’s efforts and accompany the fundamental reforms underway.

She thanked the technical staff of both parties for their efforts in reaching this important moment in the cooperation and partnership.