World Bank plans tailored support to Mauritania

“This is my first visit to Mauritania, and I look forward to learning more about the challenges facing the country and how the World Bank Group can best support its development agenda,” said Zoellick in a statement issued by the organisation.

“Mauritania has taken significant steps over the last two years in laying the foundation for overcoming poverty and increasing development in the country.

“The democratic election process and governance reforms begun in 2007 are encouraging. The World Bank Group congratulates the government on the effort and is ready to continue supporting Mauritania in its political and economic transition.”

Building on the country's changing development needs, the first Memorandum of Understanding outlines plans to provide Mauritania with a broader mix of lending instruments and advisory services across the World Bank Group's different agencies.

The agencies include the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).

The second represents a partnership agreement to integrate Mauritania in the Private Sector Liaison Officer program, which works to foster trade and investment.

During his visit, Zoellick met with President Sidi Mohamed Ould Cheikh Abdallahi, Prime Minister Zeine Ould Zeidane, and other key government officials.

The World Bank head praised the role Mauritania is playing as a cultural, economic, and geographic bridge in the region and more generally between Sub-Saharan Africa and the Arab world.

He also met with Members of Parliament on development priorities, the democratic transition process, and on achieving sound, transparent, and accountable governance processes for public resource management.

His tour included a visit to the port of Nouakchott and he had roundtable discussions with port operators, and national and international business representatives from a variety of industries highlighting opportunities and challenges for creating a better investment climate in the country.

Visiting the urban slum of El Mina and the rural community of Tawfik, Zoellick had an opportunity to see that although Mauritania is moving towards middle-income status, large pockets of poverty remain in rural areas due to rapid urbanisation.

The World Bank Group is working with local government to implement a Social Development Fund that will support participatory decision making, local capacity building, and community control of resources.

Article published courtesy of BuaNews