| Project Detail |
A loan agreement for KD 60 million was signed in Manama on the 5th of April 2016 between the Government of the Republic of Sudan and the Arab Fund for Economic and Social Development to help finance the Roseires Irrigation project in the Republic of Sudan.
The loan agreement was signed by H.E. Bader Al-Deen Mahmoud Abbas, Minister of Finance and Economic planning, on behalf of the Government of the Republic of Sudan, and by H.E. Mr. Abdlatif Yousef Al Hamad, Director General/ Chairman of the Board of Directors, on behalf of the Arab Fund.
The project aims at developing irrigated agriculture and increasing agricultural production in the Republic of Sudan, through the irrigation of about 51 thousand hectares (about 121 thousand feddans) of agricultural land in the Roseires region. The project will contribute to the generation of electrical energy from the hydroelectric power station included in the project, the improvement of the economic and living conditions of the farmers in the project region, and the provision of new employment opportunities.
The project includes the following main components:
1- Main Water conveyor Works.
2- Irrigation and Drainage Networks Works.
3- Water Intake and Hydroelectric Power Station Works.
4- Technical Services.
The loan will carry interest at 2.5% per annum and will be repayable over 25 years, including a 6 year grace period.
The Dams implementation Unit will be the beneficiary of the loan, and will be responsible for implementing the project, which is expected to be completed by 2021.
With the signing of this loan, the Arab Fund’s total contribution to financing projects in the Republic of Sudan now amounts to KD 782 million.
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