Mauritania, ITFC Sign $1 Billion Framework Deal to Boost Trade and Development

Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, highlighted that the agreement demonstrates the corporation’s continued commitment to trade-driven development in member countries.

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has signed a US$1 billion five-year framework agreement with the Islamic Republic of Mauritania to support the country’s economic development and expand its trade capacity between 2026 and 2030.

The agreement was signed during the official visit of Dr. Abdallah O. Souleymane O. Cheikh-Sidia, Mauritania’s Minister of Economic Affairs and Development and IsDB Governor, to the IsDB Group headquarters in Jeddah.

The signing ceremony took place at ITFC headquarters and was attended by Mohamed Lemine Dhehby, Governor of the Central Bank of Mauritania and IsDB Alternate Governor, along with officials from ITFC and members of the Mauritanian delegation.

Strengthening Trade-Driven Development

The new framework agreement establishes a strategic cooperation platform between ITFC and Mauritania aimed at supporting the country’s socio-economic development priorities while strengthening its participation in regional and global trade.

Under the agreement, ITFC will mobilise financing and technical support for key sectors of the Mauritanian economy, particularly:

• Energy

• Banking and financial services

• Private sector development

The partnership will also facilitate trade finance for energy imports, provide confirmation lines for letters of credit to local banks, and expand trade financing opportunities for small and medium-sized enterprises (SMEs).

Supporting Agriculture and Trade Facilitation

In addition to financial support, the agreement includes technical assistance programmes aimed at improving agricultural productivity and trade facilitation in strategic sectors of Mauritania’s economy.

Mauritania’s Minister of Economic Affairs and Development, Dr. Abdallah O. Souleymane O. Cheikh-Sidia, said the agreement would help mobilise critical resources needed to support national development goals.

He emphasised that the partnership will strengthen sustainable economic growth and trade expansion across key sectors of the Mauritanian economy.

Longstanding Partnership with ITFC

Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, highlighted that the agreement demonstrates the corporation’s continued commitment to trade-driven development in member countries.

He noted that the partnership will play an important role in strengthening Mauritania’s economic sectors and expanding opportunities for trade and investment.

Mauritania has been a longstanding partner of ITFC since 2008, with cumulative financing approvals exceeding US$1.2 billion supporting key sectors and enhancing the country’s trade and development capacity.

The new five-year framework agreement is expected to further deepen cooperation between ITFC and Mauritania, while strengthening the country’s ability to leverage trade as a driver of sustainable economic growth.