28-October-2021

EU: 10 Million Euro Program To Support Economic Transition In Sudan

EU: 10 Million Euro Program To Support Economic Transition In Sudan


 
KHARTOUM (Sudanow) – The European Union on Tuesday announced extension of 10 million Euros in support of Public Finance Management, Financial sector stabilization and Aid Coordination in the country.
 
The EU issued a statement saying that on the 15th of June, the inaugural steering committee of the 3-year project "Supporting the Economic Transition in Sudan" demonstrated the EU's steadfast commitment to Public Finance Management, Financial sector stabilization and Aid Coordination. 
 
The programme’s implementing partners, Expertise France and Overseas Development Institute (ODI) presented their main findings to assist the government of Sudan to achieve sound economic management.
 
The release pointed out that Sudan has a once-in-a-generation window of opportunity to put itself on a path of economic and social renewal. “The European Union (EU) has allocated around EUR 400 million in support of Sudan’s transition process, as it is one of the most important recent developments, providing an opportunity for sustainable peace and transformation in the Horn of Africa.”
 
The release said these financial resources will help ensure the provision of critical support to the Public Finance Management (PFM), address the most pressing needs of Sudanese, and promote peace, stability, democratic and economic governance in the country. 
 
It argued that the EU project will contribute to enhance transparency and accountability of public administrations, and will improve and strengthen public service delivery. It will also aim to enhance policy coherence concerning macroeconomic and Sustainable Development Goals strategies. 
 
“This will be achieved through the support on building human capital in PFM in the Ministry of Finance and Economic Planning and the Bureau of Statistics, the National Audit Chamber, the Sudanese Tax Chamber. In addition, the programme also aims to stabilize the financial sector through asset quality reviews and a reform strategy with the Central Bank of Sudan. “ it said
The release added that the programme places a significant emphasis on transparency and information sharing as a fundamental building-block of aid coordination. 
 
As such, the programme’s steering committee saw the involvement of the main development partners in PFM, namely the International Monetary Fund, the Middle East Technical Assistance Center, the World Bank, France, the United Kingdom, Germany and the Netherlands. 
 
“Both Sudanese government officials and their international partners voiced their strong support for the role of the Aid Coordination Unit at a technical level. This endeavour will ensure that technical assistance in the PFM and financial sector is well managed and delivers results in line with the government's priorities to enhance economic growth and reduce poverty in Sudan. “The release concluded.
 
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