UAE | Government
Two UAE loans worth Dh275m for Sudan water projects
The UAE will offer two loans worth Dh275 million for financing water projects in Sudan.
- WAM
- Published: 17:36 May 20, 2008
Abu Dhabi: The UAE will offer two loans worth Dh275 million for financing water projects in Sudan.
Mohammad Saif Al Suwaidi, Acting Director General of the Abu Dhabi Fund for Development (ADFD) and visiting Sudanese Minister of Finance and Economy Awad Ahmad Al Jaz signed the loan agreements on Tuesday.
Al Suwaidi said the first Dh 184 million loan will be used to complete the Marawi Dam in north Sudan which the fund has previously extended Dh551 million for the project.
The project will help Sudan fill the power deficit by producing 1,250 megawatts.
According to the UAE official, the second Dh92 million financial facility will be earmarked for heightening the Roseires Dam by 10 metres in order to boost its capacity from 3 to 3.7 million cubic metres.
This expansion will allow an increase of irrigated farming area to 1.4 million hectares and power generation of 565 gigawats hours.
The fund has so far financed 260 projects in 51 countries to the tune of over Dh22 billion.
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