At the ministerial segment of the M300 Energy Summit in Dar es Salaam, Tanzania, Mauritania today presented its energy projects program and vision, along with a plan to mobilize the necessary resources to finance the projects, including new power plants, transmission and distribution lines, and rural electrification initiatives.
Mr. Sid Ahmed Ould Abouh, Minister of Economy and Finance, and Mr. Mohamed Ould Khaled, Minister of Energy and Petroleum, gave detailed presentations on the plan, in the presence of Mr. Ajay Banga, President of the World Bank Group, Mr. Adesina Akinyomi, President of the African Development Bank Group, and representatives from several international financial institutions and the private sector active in power project financing.
Through this event, Mauritania aims to mobilize $2.4 billion to increase access to electricity services from 50% to 100%. According to the plan, the $1.2 billion production costs will be mobilized through contributions from the private sector.
The M300 Summit will officially begin tomorrow at the presidential level, with the participation of His Excellency President Mohamed Ould Cheikh Ghazouani, several heads of state from across the continent, and leaders from international and regional financial institutions.
The goal of the M300 Summit is to provide 300 million Africans with access to electricity by 2030.
Mauritania Presents a $2.4 Billion Mobilization Plan for Power Projects at M300 Summit in Tanzania
