Mauritania - Islamic Development Bank

TABLE 7: High Growth Scenario
2010 2011 2012 2013 2014 2015
GDP Growth 4.6% 5.9% 6.2% 8.6% 7.1% 5.9%
technical assistance operation for Mauritania since
inception now exceeds ID 337.57 (approximately
US$ 481.23 million). Since Mauritania joined the
IDB as a founding member in 1974, the Group has
approved 90 operations and 6 special assistance
projects. The industry and mining sector has
received the largest share of financing, around
25% of total approvals by value while transport and
communications, and agriculture received 20%
and 19% respectively. Out of the 90 operations,
57 have been completed, representing about 30%
of the approved amount, and 33 operations are
under implementation.
41. Mauritania has also benefitted from the IDB
Group’s trade finance operations. The Group has
approved a cumulative total of US$ 117.5 million
since the start of the trade-financing program. In
1429H, ITFC approved one syndicated operation
for the Government of Mauritania amounting
US$ 43 million, however the latter was cancelled
due to the withdrawal of participants. The main
beneficiary from trade finance operations since
inception is the Government of Mauritania.
42. ICIEC has been supporting Mauritanian
exports & imports since inception of its
operations. In fact, ICIEC issued 1 credit
insurance policy to a bank in Mauritania in the
past for the amount of US$ 10.2 million. It has
also issued an approval on a financing operation
involving supply of goods from Mauritania to a
buyer in Senegal for the amount of US$ 0.283
million. Approvals issued by the Corporation to
cover imports made by Mauritanian importers
amounted to US$ 0.4 million, in addition to the
amount of US$ 11.5 million in approvals issued to
cover confirmation of L/Cs issued by Mauritanian
banks. Regarding investment insurance, ICIEC has
received an application from an investor from
Belgium to cover his investment in an agricultural
project in Mauritania, for the amount of US$
14.7 million, while no application was received
from Mauritanian investors to cover investments
abroad. In 2008, ITAP prepared and designed
an Investor’s Guide booklet in favor of the “the
Commissariat à la Promotion des Investissements”
(CPI). In addition, ITAP conducted a need
assessment mission to Mauritania in April 2010 to
explore ITAP’s possible intervention in supporting
the Mauritanian investment promotion agency. As
an outcome of this mission, a technical assistance
program for CPI is currently under preparation by
ITAP.
43. ICD has also been active in supporting the
private sector in Mauritania. Up to date, ICD has
approved four operations for a cumulative amount
of US$ 56 million. Recently, a memorandum of
understanding was signed between ICD and the
GoM for the participation in the development
of economic zones for attracting foreign direct
investments. Two new operations are under study
by ICD.
2. Lessons Learned from Evaluation of Past
IDB Group Interventions in Mauritania
44. In general, the main lessons from
implementation of IDB projects in Mauritania
relate to: (i) weak capacity of Executing Agencies
slow project implementation, (ii) delays in the
signing and fulfillment of effectiveness conditions
of financing agreements, (iii) delays in the
procurement process; (iv) insufficient knowledge
of IDB procedures.
MCPS for Mauritania, 2011-2015 13