UAE – Mubasher: Abu Dhabi Fund for Development (ADFD) has signed a memorandum of understanding (MoU) with the Government of Mauritania to finance a renovation and modernisation project worth AED 24 million ($6.5 million).

The allotment will be directed to the Tanit Fishing Port to develop an ice factory to better enable local fishermen to benefit from the country’s fisheries economy, increase export capacity, and contribute to the local food security strategy, according to a press release on Wednesday.

The ADFD-funded upgrade will allow local fishermen to have access to refrigeration storage and rapid freezing units required to operate the Tanit fish processing plant.

The UAE development fund has helped finance different development projects in Mauritania with a total value of AED 363 million ($99 million).