July 17, 2024

Mauritania surpasses $1 billion milestone in World Bank-funded projects

Mauritania surpasses $1 billion milestone in World Bank-funded projects

Mauritania surpasses $1 billion milestone in World Bank-funded projects

The Ministry of Economy and Sustainable Development in Mauritania has announced a significant achievement, revealing that the World Bank’s investment portfolio in the country has surpassed one billion dollars.
This milestone was highlighted during a ceremony bidding farewell to Cristina Santos, the World Bank’s Resident Representative in Mauritania, marking the conclusion of her tenure in Nouakchott.

Over the past four years, these funds have witnessed rapid growth, doubling in amount, and propelling project performance from the bottom of the regional rankings to the top, as assessed by the World Bank.

This financial influx spans various sectors crucial to Mauritania’s economic development.

In a notable instance of support, the World Bank allocated 36 million dollars last year to bolster Mauritania’s social safety net.

This funding aims to enhance the efficiency and effectiveness of the Mauritanian social protection system, particularly through initiatives such as the expansion of the Tekavoul cash transfer program.

Additionally, support extends to developing early warning systems and financial strategies to aid vulnerable families in coping with climate-related shocks.

Speaking at the ceremony, the Ministry of Economy underscored the transformative impact of these investments on local communities, emphasizing their role in promoting social resilience and economic stability.

The strategic deployment of funds aligns with Mauritania’s broader development objectives, ensuring sustainable progress and mitigating the impact of environmental challenges on vulnerable populations.

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