Home | News    Wednesday 16 December 2020

U.S. provides Sudan with financial facilities to clear World Bank arrears: minister

separation
increase
decrease
separation
separation

December 15, 2020 (KHARTOUM) - The United States will provide financial facilities to support Sudan’s debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative, said the Sudanese finance minister in a statement written in Arabic and English released on Tuesday.

Heba Mohamed Ali (ST photo)In the Arabic version, Heba Mohamed Ali stated that these facilities exceed one billion U.S. dollars but in the English one she only said that Washington would "facilitate the first instalment that will support Sudan on its road to debt relief".

According to the HIPC process, 44% of the debt relief is funded by the IMF, and the remaining amount is provided by bilateral creditors.

Mohamed Ali added that this financial contribution would enable Sudan to receive "more than $1.5 billion annually in additional assistance from the International Development Association (IDA)".

The IDA is a World Bank agency that helps the world’s poorest countries.

The U.S. further would provide Sudan with will receive in-kind support that includes the provision of wheat and other commodities over four years, further said the minister.

On Monday, U.S. Treasury Secretary Steven T. Mnuchin pledged to support Sudanese government in its efforts to clear the arrears at the International Financial Institutions and to secure debt relief in 2021.

Also, in a statement issued on Monday, Senate Foreign Relations Chairman Jim Risch said the U.S. remain a main Sudan’s partner in the transition process. He further urged Khartoum to implement vital reforms "and restoring its international standing, including through normalizing relations with Israel and debt relief."

The financial and in-kind support to the Sudanese government is part of deal Trump administration struck with the Sudanese government to normalize relations with Israel. Further, to join Abraham Accords, Washington pledged to bring investors to Sudan.

The Sudanese finance minister announced that the Export-Import Bank of the U.S. will provide guarantees to U.S. private investors and disclosed that a delegation of American businessmen will be soon in Khartoum.

"Sudan will receive a delegation of executives of the ten largest American agricultural companies to build investment opportunities, which will be followed by delegations from several other sectors," she stressed.

As of 14 December, Sudan has been officially removed from the terror list. This will enable Khartoum to complete the debt forgiveness process engaged by the former finance minister Ibrahim al-Badawi.

(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


Darfuris call for protection in vain 2021-01-21 06:45:46 By Mohamed Osman “It is the same as in the old days,” Adam Rojal, a coordinator in an internally displaced community in Sudan’s Darfur region told me recently, describing ongoing violence from (...)

Invisible female victims of armed militia attacks in Darfur 2021-01-08 15:19:56 By SIHA Network* On October 19th 2020, an armed group burned down the IDP camps of Oum Assal, Babanousa and Om Zegerat in Gerida locality. Gerida locality is composed of a number of villages (...)

Account Inventory for December Revolution in Sudan 2020-12-19 20:34:35 By Mahmoud A. Suleiman This article comes against the backdrop of Sudan's Third Revolution as some like to call it, two years later during which Much has been achieved but risks still remain, (...)


MORE






Latest Press Releases


Sudan: Performing arts is not a crime, assaulting women and artists is! 2020-09-20 08:54:28 The Strategic Initiative for Women in the Horn of Africa (SIHA) Sudan is still struggling with militant Islamist ideology KHARTOUM: Central Khartoum Primary Court issued a verdict against five (...)

Civil Society Statement in Response to The Law of Various Amendments 2020-08-14 07:11:00 A Collaborative Civil Society Statement in Response to The Law of Various Amendments (Abolishing and Amending Provisions Restricting Freedom) – Exposing ‘a wolf in sheep’s clothing’ Sudanese women (...)

Remarks by SRF leaders at the Friend of Sudan meeting on peace 2020-08-13 07:58:58 Chairman of the Friends of Sudan Conference, Your Excellency, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, The Prime Minister of Sudan and the participating team from the (...)


MORE

Copyright © 2003-2021 SudanTribune - All rights reserved.