IFC funds Addax Energy to secure Mauritania’s oil imports

The International Finance Corporation is providing $35 million as part of a $200 million credit facility arranged by Societe Generale to enable Addax Energy to deliver energy imports to Mauritania.

The credit facility will finance the purchase, transportation, storage, and sales of petroleum products, ensuring a steady energy supply for Mauritania’s transport, agriculture, fisheries, mining, and other critical sectors. It will help Mauritania secure petroleum product imports for the next six months amid supply chain challenges caused by the COVID-19 pandemic. 

Addax Energy, one of Africa’s largest independent suppliers of oil and gas products, won the tender to supply Mauritania with petroleum products for six months earlier this year.