The government’s announcement came in a speech by Finance Minister Islamou Ould Mohamed Ambadi, at a consultative meeting organized by the Green Hydrogen Organization (2GH), on the sidelines of the spring meetings of the International Monetary Fund and the World Bank Group, in Washington.
The meeting was attended by the Minister of Economic Affairs and the Promotion of Productive Sectors, Osman Mamodo Kan, and the Minister of Finance, Islamou Ould Mohamed Ambadi, with the participation of international financing institutions and bodies and a number of parties interested in green hydrogen.
He added that Mauritania has “an ambitious program in this regard, as it seeks to be a pioneer in this field in cooperation with the private sector and development partners.”
Last Tuesday, the government launched a two-day conference on accelerating green hydrogen financing in Africa, in cooperation with the African Green Hydrogen Alliance (AGHA), the Green Hydrogen Organization (GH2) and the World Bank.
The conference, which is considered the first African conference to accelerate green hydrogen financing, included sessions discussing financing pioneering projects in Africa, financing pioneering incentive projects, and what is required from the private sector and partners in this field.
According to what was announced at the conference, achieving green hydrogen potential in the countries of the African Green Hydrogen Alliance (AGHA) will enable cumulative investments ranging between $450 and $900 billion by 2050, according to the latest studies.
The World Bank classifies Mauritania among the “least developed countries”, as it ranks 160 out of 189 countries, according to the general ranking based on the human growth index.
It is noteworthy that the Executive Board of the International Monetary Fund approved last January a loan to Mauritania of $86.9 million as part of the country’s economic reform program.
The fund said at the time that the decision would allow immediate disbursement of $21.7 million to Mauritania, while the rest of the amount would be disbursed over a period of 42 months.
He pointed out that economic growth in Mauritania accelerated last year, reaching 5.3 percent, mainly driven by the mining, agricultural and fishing sectors.
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