UAE to in­vest $2bn in Mau­ri­ta­nia

Muscat Daily - - BUSINESS -

Mau­ri­ta­nia’s gov­ern­ment said the UAE has made US$2bn avail­able in in­vest­ment, de­vel­op­ment projects and soft loans, a sum that equals roughly a third of its GDP.

The an­nounce­ment came af­ter Pres­i­dent Mo­hamed Ould Gha­zouani met Abu Dhabi Crown Prince Mo­hammed bin Zayed al Nahyan, mark­ing his first state visit to an Ara­bic coun­try since as­sum­ing of­fice in June 2019. “This gen­er­ous sup­port will con­trib­ute to cre­ate eco­nomic and so­cial growth and in­crease liv­ing stan­dards,” ac­cord­ing to a state­ment.

Mau­ri­ta­nia is ex­pected to be­come a nat­u­ral-gas ex­porter fol­low­ing large off­shore dis­cov­er­ies by ma­jor oil and gas ex­plor­ers last year.

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