Sudan - Rahad Irrigation Project

DOCUMENT OF INTERNATIONAL DEVELOPMENT ASSOCIATION Not For Public Use F ILE CO0 PY ReportP-18 REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED DEVELOPMENT CREDIT TO iLnr DEMOCRATIC REPUBLIC OF THE SUDAN FOR THE RAHAD IRRIGATION PROJECT February 22, 1973 This report was prepared for official use only by the Bank Group. It may not be published, quoted or cited without Bank Group authorization. The Bank Group does not accept responsibility for the accuracy or completeness of the report.   INTERNATIONAL DEVELOPMNIT ASSOCIATION REPORT AND RECO4I4ENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECIORS ON A PROPOSED CREDIT TO THE DEMOCRATIC REPUBLIC OF THE SUDAN FOR THE RAHAD IRRIGATION PROJECT 1. I submit the following report and recommendation of a proposed development credit to the Democratic Republic of the Sudan for the equivalent of $42 million on standard IDA terms to help finance the Rahad Irrigation Project. The United States Agency for International Development (USAID) and the Kuwait Fund for Arab Economic Development (Kuwait Fund) are also participating in financing this project. The USAID loan of $11 million is for 40 years including a ten-year grace period with 2 percent interest annually during the grace period and 3 percent interest per annum thereafter for the next 30 years. The Kuwait Fund loan of 3.3 million Kuwaiti Dinars equivalent to $11 million, is for 30 years including a five-year grace period with 2