Saudi Fund for Development inaugurates Arkiz Agricultural Project in Mauritania

Nouakchott, Dec. 24 (BNA): Saudi Fund for Development (SFD) Director-General of Arab Countries Operations, Bandar Al-Obaid, participated in the inauguration of the Arkiz Agricultural Project in Mauritania, which the fund has contributed to financing through a development loan worth $34 million, according to an SFD press release.

 

According to the release, posted by SPA, the Arkiz Agricultural Project aims to enhance water and food security in the country and contribute to the development of key developmental sectors. Through this project, approximately 6,700 hectares of agricultural land will be reclaimed, which will help raise the agricultural production capacity, and generate employment opportunities, the release said.

 

The project will improve the efficiency of Mauritania’s water, irrigation and drainage facilities, while delivering agricultural equipment and potable water to farmers and the people of Mauritania, the release added.

 

SFD’s financial support of the Arkiz Agricultural Project is part of its ongoing efforts to strengthen vital developmental sectors in Mauritania through a range of development-focused projects and programs. Since 1979, the fund has contributed toward 20 development projects in the country, at a value of over $665 million.

 

The release said that SFD has helped manage a number of grants provided by the Kingdom of Saudi Arabia, which were used for 28 development projects worth more than $151 million. The projects, said the release, “have further enabled the growth and prosperity of diverse sectors in Mauritania, and helped to improve the lives of many people”.

 

WHQ