Mauritania and the EIB to strengthen renewable energy

23rd June 2022

Sam Holland

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On the 22nd of June 2022, Mauritanian President El Ghazouani met Werner Hoyer, President of the EIB (European Investment Bank) to discuss cooperation with the world’s largest international public bank and agreed to strengthen cooperation to scale up wind, solar and green hydrogen investment.

“Development of Mauritania’s huge renewable energy potential can both enhance access to affordable energy in our country and allow clean energy to be converted to green hydrogen. Closer cooperation with the European Investment Bank will allow Mauritania to benefit from the EIB’s unique technical experience and financial strength,” said Mohammed Ould Ghazouani, President of the Islamic Republic of Mauritania.

“The European Investment Bank is committed to supporting climate action and clean energy investment across Africa. Today’s discussions with President El Ghazouani will unlock closer cooperation between the EIB and Mauritanian partners and builds on 54 years of EIB engagement in the country. We are committed to bring this cooperation to the next level, by harnessing Mauritania’s renewable energy potential and through our partnership through the Sahel Alliance,” said Werner Hoyer, President of the European Investment Bank.

Jutta Urpilainen, European Commissioner for International Partnerships, commented: “With the joint declaration signed today [Thursday, the 22nd of June] at the European Development Days, Mauritania and the European Union are strengthening their cooperation to accelerate clean energy investment, drive renewable hydrogen innovation and address global energy turmoil. This demonstrates how the European Union’s Global Gateway, working in a Team Europe approach, can unlock investment to harness Africa’s renewable energy potential.”

President El Ghazouani and President Hoyer also discussed support for telecom, transport and industrial investment in Mauritania, with a special focus on national and regional electrical interconnection, and investment priorities across the Sahel and the EIB’s new dedicated development finance branch, EIB Global, launched in January this year.

The European Investment Bank is a leading financier of energy investment across Africa. Since 1965 the EIB has provided more than EUR 16 billion for energy investment in more than 49 African countries, with EUR 5.6 billion of energy financing provided over the last decade.