Title: Abu Dhabi Fund grants Sudan $ 90 million loan to complete dams
Author: SudaneseOnline News
Date: 02-23-2015, 04:34 PM
04:34 PM Feb, 23 2015
SudaneseOnline News-Khartoum Sudan
My Library at SudaneseOnline
Sudan and the Abu Dhabi Development Fund signed on Sunday a loan agreement worth $ 90 million to complete the project the Upper Atbara and Setit Dam.
Sudan’s Finance Minister Bader Al-Din Mahmoud signed on behalf of Sudan, while, Director General of the Fund, Mohammed Saif Al-Suwaidi, signed on half o Abu Dhabi Development Fund
After the meeting between the two parties on Sunday, Al-Suwaidi disclosed that the Abu Dhabi Fund is studying several projects proposed by the Sudanese Government to finance projects in the areas of electricity and water, pointing out that the loan comes within the relationship of the Fund with Sudan.
For his part, Sudan’s Finance Minister explained that the duration of discharge of the loan is 20 years through bi-annual installments.
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