15 March 2019, 8:31 am

A loan of KD 50 million from Kuwait Fund for Al-Fula Electricity Station

An agreement for financing Al-Fula Power Station Project in the West Kordofan was signed on Thursday by the Kuwaiti Fund for Arab Economic Development (KFAED) at a total amount of KD 50 million, equivalent to $ 170 million, which is to be implemented through two stages of two loans worth 25 million dinars each, with repayment periods of 25 years, including a grace period of five years. The Acting Undersecretary of the Ministry of Finance Abdul Halim Al-Zayid Al-Amin signed on behalf of the Government of Sudan, while the KFAED Legal Adviser, signed for the Fund. The State Minister at the Ministry of Finance, Mustafa Yousuf Hawley praised the fruitful assistance that the KFAED has been providing to the Sudan since the 1960s, referring to its financial and technical assistance to the various development sectors and their positive effects on the citizen and the expansion of economic activity. For his part, the KFAED Assistant Regional Director Sami Al-Nisf said that the Fund’s inception was from Sudan, praising the cooperation of the Sudanese side and its efforts in the implementation of the KFAED projects, promising to continue providing assistance to Sudan. The Governor of the Central Bank of Sudan Hussein Yahya Jungol on the importance of the project, pledging to address the obstacles to the implementation of cooperation between the two sides.