BADEA Extends Two Loans Totaling US $ 22.80 million
25 November, 2015KHARTOUM (SUDANOW) The Arab Bank for Economic Development in Africa (BADEA) signed in Khartoum Tuesday two loans agreements worth US $ 22.80 million for the benefit of the Republics of São Tomé & Principe and Rwanda.
Under the agreement, São Tomé received US$ 7.80 million to finance water supply for the city of "Trindade" and neighboring centers project.
The loan, which is to be reimbursed over a period of 30 years, includes a grace period of 10 years and has an annual interest rate of 1%.
The project aims at the improvement of water supply services to the residents of town of “Trindade” and the surrounding centers to meet the present and future water demand up to 2035. Improving health conditions to the residents and ease the suffering in fetching water specially women and children. The project also will participate in encouraging the economic activities related to the availability of water to improve living conditions.
The US $ 15 million are destined for the Republic of Rwanda to help finance the “Nyagatare–Rukomo-Byumba–Base road” lot 1: Nyagatare–Rukomo project. The loan is to be reimbursed over a period of 30 years and includes a grace period of 10 years, with an annual interest rate of 1%.
The road project will contribute to achievement of the national strategic goals in the transport sector, as well as the development of the national roads networks and its integration. It connecting the central regions within each other and with the capital “Kigali”, reduce transport time and ease the transport of goods and passengers.
The two agreements were signed on behalf of BADEA by H.E. Dr. Sidi Ould TAH, Director General, and for São Tomé & Principe by H.E. Américo d’Oliveiras dos Ramos, Minister of Finance & Public Administration, while H.E. Shyaka kajugiro Ismail, Chargé d’Affaires of Rwanda in Khartoum, signed for the Republic of Rwanda.
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