EIB Global, AfDB allocate $275m for Mauritania railway upgrade

Core Insights - The European Investment Bank (EIB Global) and the African Development Bank (AfDB) have established a joint financing arrangement of $275 million for upgrading Mauritania's main railway corridor [1][2] - The financing package consists of a $150 million loan from AfDB and $125 million from EIB Global, with the latter guaranteed by the European Union [2] - The project aims to enhance the transport corridor operated by Société Nationale Industrielle et Minière (SNIM), which is crucial for Mauritania's economic development and export capacity [2][3] Company and Industry Summary - SNIM, the largest employer in Mauritania, will manage the implementation of the railway upgrade project, which includes rehabilitating existing infrastructure and constructing 42 kilometers of new track [4] - The initiative is expected to improve railway capacity, reduce fuel consumption, and enhance operational safety and reliability, thereby facilitating increased mineral exports and job creation [5] - The project aligns with the Global Gateway strategy of the European Union, showcasing collaboration between European and African institutions to support infrastructure development [3][6]