SUDAN RECEIVES 34 MLN USD IN GRANTS FROM IFAD
KHARTOUM, -- The International Fund for Agricultural Development (IFAD), a specialized United Nations agency dedicated to eradicating rural poverty in developing countries, says it expects to extend grants totaling 34 million US dollars to Sudan in 2017.
Of the total, about 16 million USD in grants would be allocated for the micro-finance projects, it was revealed during a meeting here Tuesday between Sudanese Minister of Finance and Economic Planning Badr-Eddin Mahmoud and the IFAD Regional Director for North and East Africa and Eastern Europe, Dr. Khalidah Bozar.
The minister praised IFAD's role in supporting the government's efforts in combating poverty and its contribution to donating to poor sections of rural communities the means of production to help them in poverty alleviation.
He stressed the conformity of the projects funded by the government in the fields of natural resources management, agriculture, livestock and drought combating with the IFAD priorities for poverty mitigation and improvement of livelihood of rural communities.
Bozar said her current visit to Sudan was aimed at getting acquainted with the IFAD-financed projects totalling 150 million USD in funding, of which 140 million USD are grants and 10 million USD area a loan.
She stressed IFAD's concern over the strengthening of relations with Sudan to ensure maximization of resource utilization and sustainability of developmental action through funding the rural agricultural development projects and roads.
IFAD started its financing activity in Sudan in 1978.
Source: Name News Network