Home | News    Sunday 25 April 2021

AfDB okays plan to clear Sudan’s arrears

separation
increase
decrease
separation
separation

April 23, 2021 (KHARTOUM) - The African Development Bank (AfDB) announced on Friday that it has approved a plan aimed at clearing Sudan’s $413 million debt arrears.

"The proposal enables the Bank to proceed with clearing Sudan’s arrears with the African Development Bank Group, with the support of the United Kingdom and Sweden," the AfDB said in a press release.

"The U.K will provide bridge financing to clear Sudan’s arrears to the African Development Fund, while Sweden has committed to providing grant financing of about $4.2 million to meet Sudan’s burden-share for the operation".

Raubil Durowoju, AfDB Group’s Country Manager for Sudan said that the arrears clearance would allow the African Development Bank to fully re-engage with Sudan, opening up new financing opportunities for projects and programs that add further support to ongoing Bank operations.

“With the expected additional financing flows following the arrears clearance, the Bank is looking forward to a new era of fruitful cooperation with Sudan to realize its peoples’ aspiration for prosperity and sustainable development,” Durowoju said.

Last month the United States provided a $1.15 billion bridge loan to clear Sudan’s arrears with the World Bank.

France also announced this week that it intends to provide a $1.5 billion bridge loan to clear Sudan’s arrears to the International Monetary Fund (IMF).

Sudan needs to clear its debt arrears with international financial institutions in order to qualify for the Highly Indebted Poor Countries (HIPC) initiative.

It hopes that by June it will reach the ’decision point’ which is the first step in HIPC process.

An economic conference will convene in Paris next month to discuss spurring investments in Sudan and steps towards debt relief.

It is expected to witness the attendance of more than 25 countries and financial institutions.

(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.


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



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


What Makes an Uprising? 2021-09-03 17:29:45 By: Dr Lam Akol* In an undated article, Hon. Atem Garang de Kuek discussed what was required for an uprising in South Sudan to succeed as did three uprisings in the recent history of Sudan (...)

Is IGAD partly responsible for current confusion in South Sudan? 2021-08-21 09:41:17 By Bol Khan In April 2016, Radio Tamazuj posted and answered questions about the fainting Security arrangements or demilitarization of the capital, Juba as stipulated in 2015's signed ARCSS and (...)

South Sudan People Coalition for Civil Action (PCCA) is to create warlords 2021-08-19 11:06:28 By Steve Paterno In South Sudan, where just about everyone has access to guns (tons of them), and almost every ambitious politician is a potential warlord, any slight destabilization of the (...)


MORE






Latest Press Releases


Statemeny bu Hala al-Karib to UN Security Council on women conditions in Sudan 2021-09-15 11:59:16 Statement by Ms Hala Al-Karib to the UN Security Council 14 September 2021 Madam President, Excellencies, My name is Hala Al-Karib and I am the Regional Director of the Strategic Initiative (...)

Joint Communiqué on the visit of H.E. the Prime Minister of the Republic of Sudan to Juba 2021-08-23 11:23:26 19 – 21 August 2021 His Excellency Dr Abdallah Hamdok, Prime Minister of the Republic of the Sudan and Chairperson of IGAD, accompanied by Ministers of Defence, Foreign Affairs, Trade, (...)

S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)


MORE

Copyright © 2003-2021 SudanTribune - All rights reserved.