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African Development Bank signs $75m loan with Sudan’s private sector firm

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March 10, 2020 (KHARTOUM) - The African Development Bank (AfDB) agreed to extend a $75 million to DAL Group, one of Sudan’s largest conglomerates, to improve food security and household incomes in the country.

The signing ceremony of the agreement was held on 5 March at the AfDB’s office in Khartoum by Jennifer Blanke, Bank Vice President for Agriculture, and DAL Group Chairman Osama Daoud Abdellatif.

The AfDB’s first loan to a Sudanese private sector group comes in the form of a senior corporate loan of up to the equivalent of $75 million in multiple currencies, which includes $40 million and EUR 30 million.

Speaking after the signing ceremony, Abdellatif said business in Sudan has suffered for years due to lack of finance for agriculture, and noted the agreement marks the first significant financing DAL Group has received.

“At the end of the day, Sudan is an agricultural country, and there is so much we can do. I hope this is the beginning of many projects we can do together,” Abdellatif said.

DAL Group is Sudan’s largest foods and agriculture business company.

The Bank loan will contribute to DAL Group’s Investment Program, part of the company’s strategic growth initiative for Sudan and the East African region.

Under this program, DAL Group aims to reduce the nation’s dependence on imports and increase its capacity to source and produce raw material locally.

(ST)

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  • 11 March 04:58, by Langbaar

    "African Development Bank signs $75m loan with Sudan’s private sector firm"
    Good luck to our cloned so-called arabs of North Sudan, how much money have been given to you by these creeps? Gulf Arab states always give our cloned so-called arabs of North Sudan, Egypt and even some of their islamic convert in West Africa. We have told our foolish leaders here in South Sudan all along that,>>>

    • 11 March 05:07, by Langbaar

      their evil juus (so-called israelis) attack dogs are our *existential enemies*----that from *Jerusalem to Tigris rivers, Euphrates Rivers and up to our Nilotic plains and valleys*,-----their evil juus (so-called israel) attack dogs, would span to???. Good luck to the vermin fellows. That is not going to happen under the sun, in fact, we vermin are going to bombed to near Bolivian/extinction,>>>

      • 11 March 05:12, by Langbaar

        out of our North Sudan, Eastern Jerusalem, Tel Avive, Saudi Arabia, Kenya and South Africa, reasons, pure HATRED and RACISM. I am one of the boys who will again help bomb these vermin out our of our country and over our people.>>>

        • 11 March 10:24, by Fathi

          Langbaar,

          Don’t make me and my Ph.D. Riek Machar come to Bor and teach you a lesson

  • 11 March 10:42, by Fathi

    I bet Osama Daoud is the business tycoon that hosted the meeting between the FFC and military council.
    He had several interesting comments in wikileaks docs.



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