WASHINGTON, March 28, 2018 — The World Bank approved on March 16th, a $20 million International Development Association (IDA)* grant to Mauritania to enhance the country’s capacity to negotiate investment agreements for developing the Great Tortue Ahmeyim (GTA), a large gas resource straddling Mauritania and Senegal.
The grant will help Mauritania mobilize international expertise to strengthen all institutions involved in the sustainable management of the Great Tortue Ahmeyim, and to enhance the fiscal, legal, and regulatory framework. It will also strengthen the government’s capacity to engage effectively with all stakeholders.
“This grant will strengthen Mauritania’s capacity to ensure a major gas resource is developed effectively by private operators with strong support from the government. We trust all stakeholders will be provided an opportunity to engage and contribute to accelerate inclusive growth in Mauritania,” said Laurent Msellati, World Bank Country Manager for Mauritania.
“The development of this joint resource will require strong cooperation between the Governments of Mauritania and Senegal,” said Riccardo Puliti, Senior Director, Energy and Extractives Global Practice at the World Bank Group. “The Government of Senegal is receiving similar assistance, so this project could very well serve as an example for other countries that share natural resources with their neighbors.”
The GTA’s development is directly in line with the findings and recommendations of the Bank’s 2017 Systematic Country Diagnostic (SCD) for the Islamic Republic of Mauritania, which emphasized more inclusive growth and a stable macroeconomic environment as key ingredients for reducing poverty by 2030.
* The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.5 billion people who live in IDA countries. Since 1960, IDA has supported development work in 113 countries. Annual commitments have averaged about $18 billion over the last three years, with about 54 percent going to Africa.