Sudan: BADEA to lend Niger US$20 million for road project

Khartoum, Sudan (PANA) - The Khartoum-based Arab Bank for Economic Development in Africa (BADEA) and Niger have signed a US$20-million agreement for construction of a road the Nigerien government considers vital for its economic development and cross border trade with its neighbours.

A press release, obtained by PANA in Khartoum, said the fund will finance the Filingué - Tahoua Road project.

The loan, which is to be reimbursed over a period of 30 years, with a grace period of 10 years, carries an annual interest rate of 1%, the release specified.

The agreement was signed on behalf of BADEA by Dr. Sidi Ould Tah, the Director General, and Kane Aïchatou Boulama, Niger’s Minister of Planning.

When completed, the project will enhance the development of the transport sector in the country and raise the level of the national road network. It will link Niger with neighbouring countries to promote trade exchanges between the Arab Maghreb countries and Sub-Sahara African countries (Mali, Niger, Burkina Faso, Chad and Nigeria).

“The project will also contribute to the socio-economic development and poverty reduction in the project area.” the release said.
-0- PANA MO/VAO 25Oct2016

25 october 2016 15:52:56

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