World Bank Approves Mauritania’s Energy and Mineral Resources Support
Nouakchott
The World Bank on Friday approved the project “Support to the development of energy resources and the mineral sector in Mauritania, known as the “DREAM“ project.
The US$82.5 million project aims to develop electricity storage and battery use, promote the development of green hydrogen, and support strategic reforms in the sector.
The DREAM project, according to a press release by the Ministry of Energy and Oil, represents a strategic step towards achieving national energy goals, as it promotes economic growth, supports job creation, and achieves long–term energy security.
The project is a pivotal step towards accelerating the implementation of the Energy Charter 300 initiative, which will contribute significantly to achieving the goal of universal access to electricity by 2030.
Through these multilateral partnerships, Mauritania affirms its commitment to continue implementing development projects that achieve its vision of energy security, in a way that serves the interests of citizens and enhances its capabilities in attracting investments.
The project will enable the financing and construction of Mauritania‘s first large–scale battery–based electricity storage facility, enabling the country to make optimal use of its abundant solar and wind resources, and ensure a more reliable electricity supply.
We note that the DREAM project will contribute to the implementation of the recently adopted Green Hydrogen Code, including developing legal and regulatory frameworks, promoting environmental and social standards, attracting private investments, building institutional capacities, supporting technical education, and developing national cadres.
The project also reflects the close and successful cooperation between Mauritania and its international partners: the World Bank, the International Finance Corporation (IFC), the German Agency for International Cooperation (GIZ), the European Union, the United Nations Development Programme (UNDP), the French Development Agency (AFD), the Energy Sector Management Assistance Program (ESMAP), the Public–Private Partnership (PPIAF) and the Korea–World Bank Partnership (KWPF).