Mali and Islamic Development Bank signs a 50.0 million euros loan agreement
Posted by African Press International on July 29, 2007
Bamako (Mali) The Malian government and the Islamic Development Bank (IDB) on Saturday signed a 50.5 million-euros (about 33.1 billion CFA francs) loan agreement to help improve the countrys electricity supply, APA has learnt.
Mali will provide a contribution of 1.8 million euros (about 1.2 billion CFA francs), the Malian Economy Minister Mr Abou Bakr Traore said at the signing ceremony in Bamako, the countrys capital.
The loan will be used to increase a thermic production capacity of 60 megawatts under the supervision of the Energie du Mali (EDM-SA, Energy in Mali).
Part of the money will also be used to purchase six diesel generators with a capacity of 60 megawatts, and three transformers; and will also help to train the companys technical staff.
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