In order to support Mauritania in the modernization of its main rail corridor, the African Bank of Development (BAD) and the European Investment Bank (EIB) have signed a financing agreement worth $275 million.

In a statement, the donors said that the financing agreement between the ADB and the EIB will allow the Société Nationale Industrial and Mining (SNIM), the Mauritanian national company, of rehabilitate the existing railway and build 42 kilometers of new track in order to connect future mining sites to El Aouj and Atomai. It will allow also for the SNIM, the country's largest employer, to acquire locomotives, wagons and maintenance equipment.

Under the terms of this agreement, the ADB will provide 150 million dollars and the EIB 125 million dollars to upgrade the railway line connecting the iron mines of Zouerate, in northeastern Mauritania, at the Atlantic port of Nouadhibou.