Home | News    Monday 3 September 2018

China commits $88 million in loans, grants to Sudan

separation
increase
decrease
separation
separation

Chinese President Xi Jinping (R) shakes hands with Sudanese President Omer al-Bashir at the Great Hall of the People in Beijing, capital of China, Sept. 2, 2018. (Photo Xinhua).
September 2, 2018 (KHARTOUM) - The Chinese President Xi Jinping vowed to support Sudan to overcome its economic woes announcing his country would provide a 400 mln Yuan grant and a 200 mln Yuan interest-free loan to the East African nation.

The Sudanese President Omer al-Bashir has arrived in Beijing on Saturday to participate in the China-Africa Cooperation Forum (FOCAC). During his meeting with al-Bashir on Sunday, Xi Jinping said his country appreciates the harsh economic conditions that Sudan continued to suffer since the secession of South Sudan.

“China would cooperate with Sudan to overcome these difficulties and challenges,” said Xi Jinping according to the official news agency SUNA He pointed out that they would consider extending the grace period on China’s debt to Sudan, saying his government is keen to remove obstacles and create favourable conditions for cooperation between the two countries.

Beijing has complained recently over Sudan’s debt arrears that resulted from Khartoum’s purchase of China’s share of oil produced to cover domestic consumption.

The Chinese President said oil constitutes the backbone for cooperation between the two countries, stressing keenness to promote bilateral relations with Sudan.

China has been Sudan’s largest foreign investor, particularly in oil and telecommunications after western firms shunned the East African nation due to conflicts and sanctions.

It has invested more than $20 billion in Sudan mostly in the oil sector during the past two decades. Beijing provides low-interest loans and weapons transfers in return for oil.

Sudan hopes to attract new Chinese investments after Beijing had refrained from implementing a number of projects agreed with Khartoum following the latter’s failure to settle its debts.

Sudan’s total debt to China is estimated at $10 billion, accounting for about one-fifth of Sudan’s estimated $53 billion foreign debt.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


The Perils of Managing Transition: Will Sudanese Kandakas be the option? 2019-05-21 04:45:56 By Luka Kuol, PhD Global Fellow at Peace Research Institute Oslo, Associate Professor at University of Juba and Fellow at Rift Valley Institute Since the eruption of the Sudanese popular (...)

Justices delay is justices denied 2019-05-21 04:40:18 By Wesley Kosa The Khartoum Peace Agreement was the result of the political manipulation by the governments of South Sudan, Uganda and Sudan. There were no extensive discussions and mediation (...)

The fear of political reforms in South Sudan 2019-05-19 02:16:35 By Duop Chak Wuol In his Easter message, President Salva Kiir called on the leader of the Sudan People’s Liberation Movement-In Opposition (SPLM-IO), Dr Riek Machar, to go to Juba to form a (...)


MORE






Latest Press Releases


Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)

Joseph Malwal Dong joined the SPLM/A -IO 2019-04-02 08:35:02 SPLM/A (IO) Press Release 1/4/2019 On Hon. Joseph Malwal Dong Joined the SPLM/A (IO) The leadership of the SPLM/A (IO) would like to seize this precious opportunity to announce to members and (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.