Sudan: BADEA to lend US$ 20million to Chad for Small Dams, livestock development

Khartoum, Sudan (PANA) - The Arab Bank for Economic Development in Africa (BADEA) and the Chadian on Monday, at BADEA’s Headquarters in Khartoum, Sudan, signed a loan agreement, worth US$ 20 million, for the construction of Small Dams for Agriculture and Livestock in rural areas in Chad.

According to a BADEA official statement, the project is aimed at contributing to the achievement of food security in Chad's rural areas through surface water for agriculture and livestock watering project.

It said the fund also aims at the sustainable development of natural resources and the adequacy of agricultural activities and livestock to climate change, indicating that the project will contribute to the provision of food and improve agricultural production, the development of generating animal production income and poverty alleviation.

The project is part of a national plan for development and mainly aims at the adoption of new and sustainable technologies for rainwater harvesting, improved preparedness to shocks and crises as a result of climate change and its effects on agriculture and livestock.

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

The Loan Agreement was initialed by Dr. Sidi Ould TAH, Director General of BADEA, and Ms. Mariam Mahamat Nour, the Chadian Minister of Planning and Forecasting.
-0- PANA VAO 9May2016



              

09 mai 2016 12:56:04




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