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Authority plans to double the capacity of spending on projects to reach 900 million dollars annually.

2008-01-06

Authority institutions and ministries started to prepare detailed studies for the projects that had been adopted in the development plan for the period (2008 -2010), and worked to expand these projects and add other projects that respond to the increase of the pledged funding value by the donors. This value increase necessitated for the authority to double the its annual spending capacity, especially since this increase is directed to support the projects, where the authority had demanded the donors countries to provide $5.7 billion to cover the plan"s executing  costs, where obtained a promise of $ 7.4 billion. And regarding the follow-up of the mechanisms of implementing the donors" promises, the planning minster assured that the authority ministries started the preminilary detailed studies to prelude the discussion and the specification of financial schedule for the projects.  The minister explained that what had been promised to be paid annually is approximately $900 million, which forms double the spending capability; this will demand contracting to implement projects that are larger than usual.