Mauritania Signs Financial Cooperation Agreement with Germany

The Minister of Economy and Development, Mr. Abdallahi O. Souleymane O. Cheikh-Sidia, signed a financial cooperation agreement on Monday, at the ministry’s headquarters in Nouakchott with the Ambassador of the Federal Republic of Germany to Mauritania, Mr. Florian Reindel, in the amount of 35 million euros, or approximately 1.61 billion new ouguiyas.

The agreement includes three funding components, two of which—totaling 20 million euros—are earmarked for strengthening technical and vocational training, while the third, amounting to 15 million euros, is directed toward protecting biodiversity in coastal areas and supporting the blue economy.

During the signing ceremony, the Minister of Economy and Development emphasized that the agreement represents an important building block in the fruitful partnership between the two countries, noting that Mauritania has benefited from German funding totaling nearly 100 million euros over the past decades.

He explained that the funding allocated to technical and vocational training will help improve the quality of training and better align it with the needs of the labor market, diversify specializations and training programs, and strengthen partnerships with the private sector, in addition to training and qualifying competent managers and instructors.

Regarding funding allocated to coastal regions, the Minister explained that it will be directed toward protecting biodiversity, developing the blue economy, preserving coastal ecosystems, promoting marine scientific research and the sustainable management of natural resources, as well as combating marine litter and overfishing and addressing the impacts of climate change and coastal erosion.

For his part, the Ambassador of the Federal Republic of Germany to Mauritania affirmed that the signing of the agreement once again underscores the strength and depth of bilateral relations between the two countries, noting that cooperation between Mauritania and Germany is based on a sustainable partnership that translates into concrete development projects.

He added that this support will help enhance the capabilities of Mauritanian youth, strengthen their professional skills, and facilitate their integration into the labor market, thereby supporting the country’s economic and social development efforts.