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Saudi Arabia, UAE to invest $400 m in Sudan’s agriculture projects

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Saudi Prince Crown received Sudan's PM in Riyadh on 9 March 2021 (ST photo)April 11, 2021 (KHARTOUM) - Saudi Arabia and the Arab United Emirates (UAE) will fund $400 million in agricultural projects in Sudan for this year’s summer and winter seasons.

Abdel-Latif Osman, head of the Social Security Investment Authority said on Sunday that Saudi Arabia and the UAE pledged to provide the needed resources for the summer and winter agriculture projects at the cost price.

Osman who was speaking at a press conference in Khartoum said the foreign partners will monitor the transparent management of the invested fund.

The agricultural financing portfolio provides agricultural production inputs of seeds, fertilizers, seeds, pesticides and packing materials.

The financing of the portfolio can be through in-kind or short-term financing.

Saudi Arabia committed to its pledges

Saudi Ambassador Ali bin Hassan Jaafar said his country will organize a forum on investment projects in Sudan.

Speaking after a meeting with Prime Minister Abdallah Hamdok on Sunday, Jaafar reiterated the Kingdom’s commitment to implementing all that was agreed with during Hamdok’s visit to Riyadh, last March.

He added that Saudi investment in Sudan is part of the vision of the kingdom’s Vision 2030 to diversify the economy away from oil.

Saudi Arabia and the UAE pledged $3 billion in aid to Sudan after the collapse of the former regime in April 2019. But only $750 million has been delivered, including a $500 million deposit in the central bank.

(ST)

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