Kuwait Fund finances power plant in Sudan

Sudan’s Ministry of Finance signed an agreement for financing of Al-Fula Power Station project in West Kordofan with The Kuwait Fund for Arab Economic Development (KFAED) in the amount of KD 25 million.

The Minister of State for Finance, Mustafa Hawally , commended the support provided by the KFAED to Sudan and its financial and technical assistance to various sectors of development in the country.

Hawally described the electricity project as important, pointing out that the project will have positive impact on the economic and social development in the region, calling on the competent authorities to complete the procedures of project as quickly as possible to implement the funding according to the specific plan.

For his part, The governor of the Central Bank of Sudan, Hussein Yahya Jungu stressed the importance of the project and promised to address obstacles to implementing cooperation between the two sides.

It is worth mentioning that the cost of financing the project is about $ 188 million, of which about $ 170 million is the funding of the Kuwaiti Fund, while the remaining $ 18 million in the local component is the cost of the civil works of the project.

 

Source: Sudan Daily 

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