Financial and Banking News
AID FLOWS
IBRD Lends Mauritania $20mn
The World Bank has agreed to extend a loan worth $20mn to Mauritania's Societe Nationale Industrielle et Miniere (SNIM), according to an announcement issued on 19 December. The loan is to part finance SNIM's $92.2mn project to expand its iron ore mining operations. SNIM will provide $36.4mn for the project, while the rest of the funds are being provided by Arab and foreign aid institutions.
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