IDB grants Sudan $800,000 for reservoir development
The Islamic Development Bank (IDB) will grant the government of Sudan $800,000 for the development of the south’s Roseras Resevoir. The sum will finance the expansion of the reservoir’s storage capacity, reported the North African state’s Ministry of Finance and Economy.
Construction is to commence this August and has a target date of completion set for 2006. The reservoir’s enlarged capacity is expected to increase storage from 4.8 billion cubic meters to 7.7 billion cubic meters and boost electricity generation by close to 50 percent.
IDB consists of 53 member-countries, with each country being a member of the Organization of the Islamic Conference. The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shari'ah Law. The Bank's principal office is located in Jeddah, Saudi Arabia. — (menareport.com)
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