Jeddah, KSA

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, is pleased to announce the signing of Memorandum of Understanding (MoU) with the Mauritania Investment Promotion Agency (APIM) on the sidelines of the IsDB Annual Meeting 2023.

The MoU aims to foster collaboration between the two institutions with a focus on increasing foreign direct investment (FDI) into Mauritania by leveraging the comprehensive derisking solutions offered by ICIEC. The partnership marks a significant step towards transforming Mauritania’s economy through sustainable and diversified investments.

Under the MoU, ICIEC and APIM will work closely to develop and promote investment opportunities in Mauritania by identifying potential sectors and projects and providing essential support by lowering risks for foreign investors. This strategic cooperation is expected to create a more conducive environment for investment, stimulate entrepreneurship and business growth, and create new employment opportunities in the country.

The CEO of ICIEC, Oussama Kaissi, said, “The collaboration with APIM is a testament to our commitment to supporting the economic growth and diversification of Mauritania. By providing innovative derisking solutions, we aim to attract meaningful investment into the country, contributing to the overall progress and development of Mauritania’s economy.”

With this MoU, ICIEC and APIM are poised to pave the way for a new era of economic growth and prosperity in Mauritania, benefiting from the commitment, collaboration, and mutual support of both institutions.