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News and Press ReleasesArab Fund for Economic and Social Development extends $ 199 million for Khartoum's Electricity

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Arab Fund for Economic and Social Development extends $ 199 million for Khartoum's Electricity

11-30-2017, 00:25 AM
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Arab Fund for Economic and Social Development extends $ 199 million for Khartoum's Electricity

    00:25 AM November, 29 2017

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    Khartoum, Nov. 29 (SUNA) - The Ministry of Finance and Economic Planning signed initially Wednesday an agreement on financing of the Khartoum-Round Electricity Power Line Project at 60 million Kuwaiti Dinars, equivalent to 199 million dollars from the Arab Fund for Economic and Social Development.
    The undersecretary for Planning at the Ministry of Finance and Economic Planning Abdullah Ibrahim signed on behalf of the government of Sudan, while the Legal Advisor of the fund Abdullah Babaha signed for fund.
    The Minister of Finance and Economic Planning Dr. Mohamed Osman Al-Rikabi said that the project aimed at the contribution to the discharge of energy produced from the stations' current and expected generation in Khartoum city and its environs as well as the expected energy to be imported from the Ethiopian grid, besides the reduction of losses and bottlenecks in the national electricity transmission network, praising the Fund efforts and fruitful cooperation with Sudan in addition to strengthening to its efforts in achieving socio-economic development. He revealed that the total loans of the Arab Fund to the Sudan amounted so far to about $ 2.7 billion for vital and strategic projects including the heightening of the Rosaries Dam and the complex of Upper Atbara and Sitet Dams and Eastern Sudan roads.
    The Engineering Consultant and Head Mission of the Fund Dr. Mohamed Farahat explained that the capacity of the line was about 500 kV. He added that the project components include transfer stations, transmission lines and the development of the control and consulting services center, pointing out that the loan maturity period is 30 years with a grace period of seven years as the longest repayment period allowed by the Fund's policy.
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