African Development Bank Signs US$41 million grant agreement for Sudan’s Agriculture Value Chain Development Project
The African Development Bank on Thursday signed a US$41-million grant agreement with Republic of Sudan to finance a public sector Agriculture Value Chain Development Project in the country.
The project was identified under Sudan’s National Agriculture Investment Plan (SNAIP), which seeks to increase agricultural production through the modernization of agricultural systems, value chains and market access, the Minister of Finance and Economic Planning, Mohamed Osman Elrikabi said at the signing ceremony on July 26, 2018.
The project will improve household incomes, food security, and climate resilience for the country, through the development of infrastructure and measures to facilitate trade and market access for produce.
Sudan’s Economic Reform Program (ERP) 2015-2019, aims to achieve sustainable and inclusive economic growth through the expansion of the country’s production base and optimization of its resources.
Elrikabi said he appreciated the tremendous support provided by the Bank to Sudan during its difficult periods.
Representing the Bank, country Manager Raubil Durowoju said the grant aligned with Bank Group’s strategic regional and national initiatives such as its Ten Year Strategy (2013-22), the High 5s Feed Africa priority and flagship programs such as ENABLE Youth; Jobs for Youth in Africa (2016-2025).
He urged the government to support the project and other Bank-funded initiatives in the country, cumulatively valued at US$350 million.