The UAE and Saudia Arabia announce $3 bln support for Sudan
Monday, 22 April 2019 17:11
In a release published on Sunday 21, April 2019, the United Arab Emirates and Saudi Arabia announced that they would provide $3 billion to Sudan.
This financial support is aimed at helping the east African country find solutions to the economic crisis it is going through.
It consists of a $500 million deposit in the Central Bank of Sudan to alleviate pressures on the Sudanese Pound. The remaining fund will be used to cover various needs for food, drugs and fuel.
Far from appeasing the social tension, the downfall of president Omar el-Béchir (deposed days ago) exacerbated the social protests demanding a civilian government. With this financial support, the two Gulf countries are trying to restore political stability in a country which has always been one of their traditional allies, in the Yemeni war notably.
Let’s note that weeks ago, two investment funds based in Abu-Dhabi announced a $300 million support to restore economic balance in Sudan.
Moutiou Adjibi Nourou
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
DRC: Maluku Special Economic Zone Gets River Dock to Ease Exports
19:27
-
UN, Kenyan Bank Launch Loan Guarantee Scheme to Expand Startup Lending
18:24
-
Nigeria Weighs Higher Power Exports to Togo, Pending Payment Guarantees
18:02
-
UBA, British International Investment explore Africa trade finance deal
17:18
-
Omar Gabr Reinvents Bug Tracking with AI-Driven Insights
10:51
-
Cameroon Reviews Progress on XAF350bn Rail Programme as Projects Near Implementation Phase
09:46
-
Cameroon Moves to Cut Food Imports with Cassava and Palm Oil Investment Deals
08:43
-
Douala Port Signs XAF40bn Rail Concession to Upgrade Logistics, Raise Revenues
08:19
-
African cotton producers meet in Lomé to tackle productivity challenges
18:41
-
Cameroon Suspends Fuel Shipments From Importers Over Payment Disputes
18:18
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
This week, Africa is facing a mixed health situation. Namibia has declared an end to its mpox outbre...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Maluku SEZ to receive river dock to boost logistics Saphir Ceramics funds dock to improve exports via river Facility supports growing industrial...
UNCDF, Co-op Bank Kenya sign guarantee to boost digital lending Risk-sharing aims expand financing access for startups, platforms Deal supports...
Nigeria considers increasing 75 MW electricity exports to Togo Talks focus on meeting rising demand and recent supply disruptions Expansion depends on...
Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime against humanity Backed by AU, CARICOM; aims support...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...