IsDB Finances Sudan’s Upper Atbara Dam Complex Project with $135 Million

IsDB Finances Sudan’s Upper Atbara Dam Complex Project with $135 Million
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IsDB Finances Sudan’s Upper Atbara Dam Complex Project with $135 Million

IsDB Finances Sudan’s Upper Atbara Dam Complex Project with $135 Million

The Islamic Development Bank (IsDB) announced on Sunday a $135 million financing package for the Upper Atbara Dam Complex project in eastern Sudan. This significant investment aims to bolster the region's water and energy infrastructure.

The Upper Atbara Dam Complex project is regarded as a groundbreaking initiative for sustainable water and energy resource management. It is designed to harness 3.6 billion cubic meters of water and generate 320 megawatts of renewable energy at the Rumaila power station.

In addition to boosting renewable energy production, the project will provide clean water to eastern Sudan, benefiting the surrounding communities.

According to the IsDB, the project sets a new benchmark for sustainable development in the region, focusing on boosting economic growth through improved infrastructure for water and energy resources.

The initiative also aims to expand access to renewable energy and clean water, contributing to long-term development and stability in eastern Sudan.



Türkiye's Stock Market Hit Hard after Arrest of Istanbul Mayor

Police officers intervene as flames rise from a fire in a dustbin during a protest by students against the detention of Istanbul Mayor Ekrem Imamoglu, in Istanbul, Türkiye, March 21, 2025. (Reuters)
Police officers intervene as flames rise from a fire in a dustbin during a protest by students against the detention of Istanbul Mayor Ekrem Imamoglu, in Istanbul, Türkiye, March 21, 2025. (Reuters)
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Türkiye's Stock Market Hit Hard after Arrest of Istanbul Mayor

Police officers intervene as flames rise from a fire in a dustbin during a protest by students against the detention of Istanbul Mayor Ekrem Imamoglu, in Istanbul, Türkiye, March 21, 2025. (Reuters)
Police officers intervene as flames rise from a fire in a dustbin during a protest by students against the detention of Istanbul Mayor Ekrem Imamoglu, in Istanbul, Türkiye, March 21, 2025. (Reuters)

The Istanbul stock exchange's main index was hit hard on Friday, closing 7.8 percent down on the third day of protests over the arrest of Istanbul mayor Ekrem Imamoglu.

The 53-year-old mayor -- Erdogan's main political rival -- was arrested on Wednesday, days before he was due to be named the CHP party's candidate for the 2028 presidential race.

The BIST 100 had already slipped by 8.7 percent on Wednesday following Imamoglu's arrest over allegations of "corruption" and links to a "terrorist organization".

The damage was limited to a fall of 0.5 percent on Thursday, but faced with a sharp fall on Friday, trading was suspended twice in the morning.

The index fell below 9,000 points during Friday trading for the first time since early November, a fall of more than 16.5 percent over five days.

Imamoglu's party has denounced his arrest as a "coup" and international organizations including the European Union have expressed concern.

It has also sparked street protests, which President Recep Tayyip Erdogan on Friday denounced as "street terror".