Mauritania is given $275 million by the AfDB and EIB to rebuild its railways

The European Investment Bank (EIB) and the African Development Bank (AfDB) inked a $275 million financing deal to assist Mauritania in modernizing its main railway route.

The lenders stated in a statement that the AfDB and EIB would pay $150 million and $125 million, respectively, to modernize the railway that connects iron ore mines in Zouerate, in northeastern Mauritania, to the Atlantic port of Nouadhibou.

On the fringes of the Africa Investment Forum in Rabat, the European Union-guaranteed agreement was inked, the statement continued.

According to Mauritania’s national industrial and mining company (SNIM), the funding will allow them to repair the current railway and construct 42 kilometers of new track to link El Aouj and Atomai, two potential mining locations.

Additionally, it will enable SNIM, the biggest employer in the nation, to purchase maintenance equipment, wagons, and locomotives.