Media ININ Economy We Trust
Media IN / WAM 13-01-2019
HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Mohamed Ould Abdel Aziz, President of the Islamic Republic of Mauritania, today witnessed the signing of an agreement between the Khalifa Fund for Enterprise Development and the Mauritanian Development and Development Fund Business and development of micro, small and medium enterprises in Mauritania worth US $ 25 million.
The signing ceremony was attended by HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra, Ali bin Hammad Al Shamsi, Deputy Secretary General of the Supreme National Security Council, HE Mohammed Mubarak Al Mazrouei, Undersecretary of the Abu Dhabi Crown Prince’s Court, and Issa Abdullah Masoud Al Kalbani, State Ambassador to the Islamic Republic of Mauritania.
The agreement was signed by HE Hussein Jassim Al Nowais, Chairman of the Khalifa Fund for Enterprise Development and HE Mohamedo Yousuf Jagana, Director General of the Mauritanian Deposit and Development Fund.
Under the agreement, the Abu Dhabi Fund will provide $ 25 million in funding, “equivalent to 92 million dirhams”, for five years to support economic projects in Mauritania.
Al-Nowais said that the agreement with the Mauritanian Development and Development Fund reflects the deep brotherly relations between the UAE and the Islamic Republic of Mauritania, stressing that the funding aims to support the efforts of the Mauritanian government in economic development.
Al-Nowais predicted that the financing process, which will be based on technical principles and criteria, will contribute to the creation of permanent employment opportunities for Mauritanian youth. “We want to provide the opportunity for those who have the skills and creative potential to realize their ambitions and establish their own projects that will contribute to strengthening the national economy.”
For his part, HE Mohamedou Yousuf Jagana, Director General of the Fund for Development and Development of the Islamic Republic of Mauritania, thanked the United Arab Emirates for this great support to enable the segments of society, especially women and young people, to advance their country’s economic future, praising the brotherly and deep-rooted relations between the two brotherly countries.
