| Project Detail |
A loan agreement for KD 57 million was signed in Kuwait on 11 July 2013 to help finance the Nyala - El Geneina Transmission Line to the Darfur States Project in the Republic of Sudan. The loan agreement was signed by H.E. Mr. Ali Mahmoud Mohamed Abdel Rasoul, Minister of Finance and National Economy, on behalf of the Government of the Republic of Sudan. 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, which is expected to be completed by 2018, aims at meeting the growing demand for electricity in a number of towns and villages in the Darfur states, by linking them to the national transmission grid in Sudan. The project will provide safe and low cost electric power for lighting and cooking, meet the needs of the various sectors of the economy, and reduce reliance on small diesel units, having high operating costs and and low reliability, in the cities covered in the project. The project includes the following key elements: 1 - Transformer stations 2 - Transmission line 3 - Technical Services The loan will carry interest at 2.5% per annum and will be repayable over 25 years with a 5 year grace period. The Sudanese Company for Electricity Transmission 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 Republic of Sudan now amounts to KD 722.00 million. |
