Madar (Nouakchott) - Mauritania and Germany's development bank KfW on Tuesday, November 3, 2026, signed in Nouakchott a grant agreement worth 15 million euros, about 675 million new ouguiyas, to support employment by financing small and medium-sized enterprises, the Mauritanian News Agency (AMI) reported.
The agreement was signed by Minister of Economic Affairs and Development Mohamedou Ahmedou M'Haimid and KfW regional adviser Sonja Hoss.
According to the agency, the funding is meant to provide financing suited to the needs of SMEs, supporting value creation, growth and job creation in the country.
The minister described a "solid and fruitful partnership" between Mauritania and Germany across several economic and social sectors, saying employment holds an important place in that cooperation and that mobilising resources is a key issue for SMEs.
German Ambassador to Mauritania Florian Rendl called the agreement "an important milestone" in strengthening cooperation between the two countries and said he hoped it would help improve living conditions for young Mauritanians.
The signing was attended by Central Bank of Mauritania Governor Mohamed Lemine Ould Dhehby, the secretary general of the Ministry of Youth Empowerment, Employment, Sports and Civic Service, and the ministry's director general for financing and economic cooperation.
