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Saudi Arabia,Sudan : ISLAMIC DEVELOPMENT BANK signs agreements with SUDAN

June 7, 2014

Sudanese president Omer al-Bashir witnessed the signing of new agreements worth $100 million with the Islamic Development Bank (IDB) to fund 3 projects.

The projects include $50 million for construction of an electricity carrier line between Babanousa and Adliya and another $50 million to finance the Delta Toker agricultural project as part of its pledges to the Eastern Sudan Reconstruction and Development Fund.

IDB is being called for consolidating relations between Sudan and the IDB in realizing Arab food security.

Sudan s leading role in the foundation of the IDB is celebrating its 40th anniversary, recalling that Sudan was the first country to contribute to the establishment of the bank.

The Sudanese minister of finance, Badr al-Din Mahmoud, expressed his appreciation to the IDB role in funding major projects in Sudan, explaining that the bank extended $1.5 billion for construction of dams and other infrastructure projects in Sudan.

The third agreement deals with technical funding for the institutions for employment of youths.

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Source: TendersInfo (India)

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