AAAID Board of Directors holds its first meeting for the year 2010         AAAID Granted a loan of $ 12 million to the Arab Sudanese Blue Nile Agricultural Company (Agadi)        Board of Directors’ 5th Meeting for 2009
 

AAAID Granted a loan of $ 12 million to the
Arab Sudanese Blue Nile Agricultural Company (Agadi)

 


 In his office in Khartoum, today Monday 18th January 2010, H.E. Mr. Ali Bin Saeed Al-Sharhan, President of the Arab Authority for Agricultural Investment and Development (AAAID), signed a loan agreement according to which AAAID grants a $ 12 million loan to the Arab Sudanese Blue Nile Agricultural Company (ASBNACO) to finance the operational needs of the company for the agricultural season 2010 - 2011. Eng. Omer Marzoug, the general manager of the company, signed for the company. .

This comes in the framework of the technical and financial support provided by AAAID to its affiliated companies in Sudan, the host country for AAAID. Following the signing of the agreement, H.E. the President of AAAID stated that AAAID is doing its best to enhance the performance of its affiliated companies, especially in Sudan, and is preparing an ambitious plan for rehabilitation of the companies which need rehabilitation, beside shareholding in numerous agricultural companies in Sudan, such as the White Nile Sugar Company. He assured the great role that can be played by Sudan with its capabilities and natural resources for achieving Arab food security. He praised the role of the Government of Sudan in providing all necessary facilitation for AAAID companies, and expressed his appreciation of the developmental progress which Sudan witnesses in various fields.

On his part, Mr. Omer Marzoug, the general manager of the company, stated that the loan allows the company to expand the area under cultivation in the next season to reach 60,000 feddans, adopting zero-tillage farming system, and applying the latest agricultural technology, to achieve the highest yields in all crops which the company intends to grow according to its agricultural plan. He also explained that the loan would create local job opportunities and accommodate a number of the agricultural graduates who have already been trained by AAAID on the latest technologies. He added that the company has achieved high yields this season, despite the experienced adverse climatic conditions of rainfall scarcity in some areas.
 
 

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