[tripoli post] Following the meeting of the Joint Cooperation Commission between Libya and Mauritania, Libya is reportedly ready to invest in telecommunications in Mauritania, with particular interest in mobile and fixed telephony.
Libya is also interested in investing in the areas of fishing and mines, particularly in the iron industry and tourism, for which it will construct a large hotel in Nouakchott.
The governor of the Central Bank of Mauritania, Sid'Ahmed Oukld Rais, has been reported saying that that Libya has already cancelled Mauritania's debt with it and rescheduled the interests on the debt.
The interests has been estimated at being about US$ 100 million, which is 50 per cent of the total debt, estimated at US$ 200 million.
According to Rais, Libya has decided to grant Mauritania a budget support of US$50 million over two years for the construction of a hospital and the University of Al-Fateh in Mauritania.
The discussions between the two countries are a follow-up of the recommendations of the Libyan-Mauritanian Joint Cooperation Commission.
The recommendations called for the signing of some agreements following Libya's investment projects in Mauritania.
Libya to Invest in Mauritania's Telecommunications