OPEC international development fund grants loan to Sudan

The International Development Fund of the Organization of Petroleum Exporting Countries OPEC granted Sudan a $10 million loan to develop its electricity network.

The loan accord was signed in Fez-- on the fringes of the Arab Financial Institutions joint meetings-- by the Sudanese minister of finance and national economy and the chairman of the administrative board of the OPEC fund.

The loan will finance the rehabilitation of the Sudanese National Electricity Company and improve electricity supply in the country, a fact that will promote industrial and agricultural production and create job opportunities.

Sudan had already benefitted from 14 OPEC loans that financed development projects in the energy, agriculture and transport sectors.