African Development Bank grants Sudan $8 million

Nov 28, 2005 (KHARTOUM) — The African Development Bank (ADB) has agreed to grant Sudan a sum of 8 million dollars in support of capacity building project to combat poverty.

State Minister for Finance Lual Deng said following his meeting with the president of the ADB, Donal Cabroka, in Tunis that a delegation of the bank is to visit the country mid next December.

The delegation will get acquainted with renewal of the data of the project proposal, presented by Sudan two years ago, prior to submitting it to the Board of Directors of the bank during the first quarter of next year for approval.

The two sides, further, agreed on opening a branch for the ADB in Sudan before the end of next year, whereas the Sudanese side committed to facilitate all the necessary procedures in this respect.

Lual said the opening of a branch for the bank constitutes a great gain for Sudan, particularly with regard to the utilization of the bank experience in field of infrastructures.

The two sides also reviewed means of enhancing the regional cooperation among the member states.

(ST)