Saudi Arabia announces $20mln grant to help cover Sudan’s financing gap with IMF

King Salman and the crown prince were keen to ease Sudan’s debt burden

  
A man counts U.S. dollar banknotes at a currency exchange shop in Beirut, Lebanon March 23, 2021. Image used for illustrative purpose

A man counts U.S. dollar banknotes at a currency exchange shop in Beirut, Lebanon March 23, 2021. Image used for illustrative purpose

REUTERS/Mohamed Azakir
 

LONDON: Saudi Arabia announced on Monday that it had provided a grant of about $20 million to contribute to covering part of Sudan’s financial debt with the International Monetary Fund (IMF).

Heading the Kingdom’s delegation at the International Conference in Support of Sudan in Paris on behalf of Crown Prince Mohammed bin Salman, Foreign Minister Prince Faisal bin Farhan said the grant was an extension to previous support provided by the Kingdom to Sudan.

Saudi Arabia also announced it would transfer the balance into the two emergency and deferred fees accounts with the IMF, to contribute to the handling of arrears and alleviate Sudan’s debt burden.

Prince Faisal bin Farhan said that King Salman and the crown prince were keen to ease Sudan’s debt burden and contribute to addressing the north African nation’s arrears, in addition to “enhancing Saudi investments in Sudan and the Kingdom’s support for all sectors that would achieve the aspirations of the Sudanese people toward further progress, prosperity and development,” Saudi Press Agency reported.

He also conveyed the greetings and congratulations from King Salman and the crown prince to Chairman of Sudan’s Sovereignty Council Abdel Fattah Al-Burhan, Prime Minister Abdalla Hamdok, and the Sudanese people on the success of the Paris Conference and its fruitful results toward a better future for the country and its people.

The Kingdom’s Finance Minister Mohammed Al-Jadaan also attended the conference in the French capital, which was part of the Summit on the Financing of African Economies that will continue til Tuesday, along with with a number of Saudi officials from the foreign and finance ministries.

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