PR95503

NOUAKCHOTT, Mauritania, April 17, 2022 /PRNewswire=KYODO JBN/ --

The Kingdom of Saudi Arabia, in implementation of directives by the Custodian

of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and HRH the Crown

Prince, has transferred its $300 million deposit with the Central Bank of

Mauritania into a soft loan, as part of the Kingdom's ongoing efforts and

leadership role in supporting the development and economy of Arab and Islamic

states.

The move comes as an extension of the Kingdom's continuous support for the

people and government of the Islamic Republic of Mauritania, to push the wheel

of economic growth and implement development projects in vital sectors. The

support aims to contribute to promoting inclusive and sustainable economic

growth, in addition to opening new financing channels from regional and

international financial organizations.

Source: Ministry of Finance