Signing of Cooperation Protocol Agreement between Mauritania and China on Canceling Part of Indebtedness
On 25 January, the Minister of Economic Affairs and the Promotion of Productive Sectors, Mr. Ousmane Mamoudou Kane, signed in Nouakchott with the Chinese Ambassador to Mauritania, His Excellency Mr. Li Bai Jun, a cooperation protocol agreement on canceling part of the Mauritanian government’s debts owed to the Chinese government.
The memorandum concerns the cancellation of one hundred and sixty million yuan (160,000,000), equivalent to about nine hundred and thirteen million new ounces (913,000,000), of Mauritania’s debts, stipulated in the economic and technical cooperation agreements signed on December 11, 2006, January 17, 2008, and March 25, 2008, between our country and the government of the People’s Republic of China.
The Minister valued this gesture of solidarity, which comes in a special circumstance in which the world is going through an unprecedented pandemic that has led the country to work on exempting or scheduling some debts to confront and mitigate the effects of the pandemic on the population.
He pointed out that the People’s Republic of China has accompanied Mauritania since the dawn of independence, and the relations of the two countries have continued to develop and consolidate, accompanying the emergence of China as one of the most important global economic powers.
The minister also affirmed that China has remained one of the most important providers of public aid to the African continent, noting that the exemption for the repayment of these loans for Mauritania comes after a previous exemption of 52,290.00 yuan on October 26, 2021.
On his part, the Chinese ambassador expressed his happiness at signing this agreement, which falls within the framework of supporting economic development in Mauritania and reducing the debt dilemma.
He pointed out that, canceling part of the indebtedness is one of the measures taken by the People’s Republic of China within the framework of cooperation between China and Africa, launched by Chinese President Xi Jinping, within the framework of the China-Africa Cooperation Forum.
He praised the efforts made by Mauritania in the context of economic and social growth, which it witnessed under the rule of the President of the Republic, His Excellency Mr. Mohamed Ould Cheikh El Ghazouani.