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Islamic Development Bank grants $63.3m for South Darfur projects

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Sudan finance minister Mohamed Osman al-Rikabi (ST Photo)
April 7, 2018 (KHARTOUM) - The Islamic Development Bank (IsDB ) will provide up to $63.3 million of funding for development and services projects in South Darfur state, announced Sudanese finance minister Mohamed Osman al-Rikabi on Thursday.

The grant agreement was signed in Tunis by al-Rikabi and the IsBD head Bandar Hajjar on the sidelines of the 43rd annual meeting of the bank which was held this year in Tunis.

In a statement released after his return to Khartoum, the minister said the grant would fund services facilities projects in Al-Malam areas of South Darfur state.

The Sudanese government has called for an international support to recovery and rehabilitation and development strategy including water, health and education services projects estimated at 8 billion in 2013.

Al-Rikabi said that $ 55.7 million of the $63.3 grant is a contribution from the IsDB’s "Goodwill program" while Sudan will repay the $7.6.

The IsDB is a Multilateral Development Bank (MDB) that promotes comprehensive development in its 57 member states but also among Muslim communities in non-member countries.

The Jeddah based bank receives strong support from its member countries mainly Saudi Arabia, which appoints its general director, and other Gulf countries.

(ST)

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