Sudan works on promoting lamb exports to Arab countries

October 8, 2007 5KHARTOUM) — Sudanese banks allocated some 60 mln Sudanese pounds ($29.1 mln/20.7 mln euro) to encourage lamb exports, in line with the instructions of the Central Bank of Sudan.

Some 18 commercial banks have revised their lamb export financing portfolio, offering better loan terms to exporters. Previously, such loans had a six-month repayment period.

The specialised Animal Resources Bank will offer a veterinary control service as a bonus to the loan facility.

Lamb exporters insisted for facilitated extension of the loans, since they are ready to dispatch to Saudi Arabia 30,000 heads immediately after the end of Ramadan, followed by another 700,000 heads in the near future.

According to a decision issued by the Sudanese Finance Ministry, lamb exporters are exempted from local and municipal taxes.

Sudan is a traditional exporter of lamb to the neighbouring Arab countries like Egypt, Libya, Saudi Arabia, Kuwait and the United Arab Emirates.

(ST)