Kuwait Fund, Sudan’s govt signs USD 50 million loan agreement

KHARTOUM, May 26, 2004 (KUNA) — A USD 50 million loan agreement was signed on Wednesday between the Kuwait Fund for Arab Economic Development (KFAED) and the Sudanese government to finance the additional projects of Marwa Dam in northern Sudan.

Dr. Mohamed Sadeq signed the agreement for the KFAED, while the Sudanese government was represented by Director General of the Resources Sector at the Finance Ministry Sheikh Mohamed Almak, in the presence of Sudanese Minister of Finance and Planning Al-Zubeir Ahmed and Minister of Irrigation Osama Abdullah.

The Sudanese Minister of Finance commended the KFAED and its role in financing Marwa Dam, which is one of the most successful developmental establishments in Sudan, expressing his hope that the KFAED would continue financing projects in Sudan.

Al-Hassan highlighted his ministry’s keenness, in coordination with the Ministry of Irrigation, on implementing the project and gaining maximum benefit from the finance offered by KFAED and other financial sources.

For his part, Dr. Sadeq commended the efforts made to implement Marwa Dam, which he described as a great ‘developmental edifice’, that supports Sudanese efforts to attain development in the country.

Sadeq pointed out that the KFAED officials intend to meet with other Arab funds in Khartoum to be briefed on the available investing opportunities in Sudan.