African Development Bank grants Sudan $ 41 million for agriculture

The Sudanese Ministry of Finance and Economic Planning has signed a $ 41 million grant agreement with the African Development Bank (AfDB) to finance an agricultural development project in Kordofan and Khartoum.

The Sudan News Agency (SUNA) reported on Thursday that the AfDB’s grant will be used for the implementation of an agricultural value-chain-development project for gum Arabic, peanut, sesame, and potato crops in North Kordofan, West Kordofan and Khartoum states.

Finance Minister Dr Mohamed El Rikabi signed the contract with Raubil Durowoju, AfDB Resident Representative in Sudan.

El Rikabi said the project aims to realise food security and improvement of household incomes through the improvement of infrastructure, access to markets, and the facilitation of trade, and to increase the production by modernising agricultural systems.

According to Durowoju, the grant focuses mainly on the development of agricultural value-chains, in order to increase production and productivity, and help the government achieve the objectives of its five-year programme and its agricultural plans.

He said that the bank's grants to finance projects in Sudan amount to 350 million Dollar so far, and called on the Minister of Finance to instruct the people responsible for the implementation of the agricultural project to heed the high efficiency needed for the success of the project.

The contribution of the government of Sudan to the project is estimated at SDG 4,4 million (*$ 142,000).

* Based on the indicative US Dollar rate quoted by the Central Bank of Sudan (CboS).