Public Management

The UAE and Saudia Arabia announce $3 bln support for Sudan

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
On the same topic
Breadfast secures $50 million in pre-Series C funding. Mubadala, SBI and EBRD among investors; EBRD invests up to $10 million. Company...
Kenya launches $500 million Eurobond buyback maturing in 2028 and 2032. Operation financed through issuance of a new longer-dated...
A.P. Moller Capital raised 2.24 billion dirhams ($243 million) for APM Capital Morocco Fund, dedicated to transport and logistics. The fund...
Pictet opens first African office in South Africa Group manages $955 billion in assets South Africa hosts 41,100 dollar millionaires in...
Most Read
01

Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...

Absa Kenya Imports a Telecom Playbook in Bid to Reinvent Retail Banking
02

MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...

DRC Accuses MTN of Illegal Operations, Spotlighting Border Frequency Issues
03

South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...

Three Countries Drove 70% of Africa’s M&A Deal Value in 2025
04

Safran invests €280m to build one of the world's largest landing gear plants in Morocco, crea...

Morocco: Safran Announces $305 Million Investment to Build One of the World's Largest Landing Gear Plants
05

This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...

Weekly Health Update | Africa CDC Advances Health Sovereignty Efforts
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.