NAUAKCHOTT: Finance Minister Ibrahim Al-Assaf told an investment forum here Sunday that Saudi Arabia would continue to provide financial assistance to Mauritania through bilateral and multilateral deals.

The Saudi minister commended the Mauritanian government’s efforts to improve the country’s economy, achieve progress and ensure transparency, adding that it helped the country overcome global financial crisis.

Al-Assaf reiterated the desire of Saudi businessmen and businesswomen to invest in Mauritania and make use of its viable investment opportunities.

He emphasized the private sector’s role in boosting economic growth and increasing productivity.

Al-Assaf arrived here Saturday at the head of a high-ranking delegation from the various financial institutions in the Kingdom to participate in the investment forum.

The Jeddah-based Islamic Development Bank also offered its support for Mauritania. “IDB is ready to go ahead with the electricity expansion project in Nauakchott, which will contribute to diversifying energy resources in the country,” Abdul Aziz Al-Hanani, the bank’s vice president, told the forum.

He said the project would be presented at the board of directors meeting shortly to get its approval for financing the venture. IDB has so far given $770 million in loans to Mauritania to carry out various development projects.