Niger received the support of Islamic donors for the construction of a dam on the Niger River, a project amounting to USD236 million. The dam will be used to supply hydro power and facilitate agricultural growth for the arid African country, which is also one of the poorest in the world. “Funding for building the Kandadji dam and associated projects has been secured,” Niger’s Prime Minister Seyni Oumarou said after the conclusion of a meeting with the Islamic Development Bank. “Building the dam will allow us to solve at least three problems: firstly, regenerating the natural environment, secondly, improving food security through water-based agriculture or irrigation, and thirdly, to provide electricity,” he added. The funds, however, are still short of the USD670 million required by the broader Kandadji project, thus the project, according to Oumarou, would rely on financial backing from a public-private partnership.
Source: Niger says secures $236 mln Islamic funding for dam (Reuters)