| Project Detail |
A loan agreement for KD 9 million was signed on 9 July 2013 to help finance the New Nouakchott International Airport Project in the Islamic Republic of Mauritania.
The loan agreement was signed by H.E. Dr. Sidi Ould Bbha Ould Tah, Minister of Economic Affairs and Development, on behalf of the Government of the Islamic Republic of Mauritania. H.E. Mr. Abdlatif Yousef Al Hamad, Director General/Chairman of the Board of Directors of the Arab Fund, signed the loan agreement on behalf of the Fund.
The loan agreement was signed by H.E. Dr. Sidi Ould Bbha Ould Tah, Minister of Economic Affairs and Development, on behalf of the Government of the Islamic Republic of Mauritania. H.E. Mr. Abdlatif Yousef Al Hamad, Director General/Chairman of the Board of Directors of the Arab Fund, signed the loan agreement on behalf of the Fund.
The project includes the following key elements:
1 - The Runway, Taxiways, Aircraft Hangar and Service Roads
2 - The Main Building and Airport Services Buildings
3 - Air Navigation Facilities
4 - Other Equipment
5 - Technical and Advisory Services
The loan will carry interest at 2.5% per annum and will be repayable over 25 years with a 7 year grace period.
The Ministry of Equipment and Transport will be the beneficiary of the loan, and will be responsible for implementing the project.
With the signing of this loan, the Arab Funds total contribution to financing projects in the Islamic Republic of Mauritania now amounts to KD 409.70 million.
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