Sudan Clears Its Arrears To World Bank
26 March, 2021
KHARTOUM (Sudanow) — Sudan on Friday said it has reached a deal with the World Bank where Khartoum is to receive 2 billion dollars in loans ending three decade of funding denial by the world financing body.
A statement from the Sudanese Ministry for Cabinet Affairs on Friday said Sudan has “clear(ed) its arrears to the World Bank, regaining access to $2 Billion in New World Bank Financing for the first time in almost 30 years”.
The statement said on Friday the Sudan and the World Bank have finalized arrangements to clear Sudan’s arrears to the World Bank through a grant from the World Bank and bridge financing facility from the Government of the United States,” marking the Sudanese people’s first major victory on the path towards debt relief.”
The statement argued that this development marks the resumption of normal operations between Sudan and the World Bank Group, including the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), in almost 30 years.
It explained that the arrears clearance immediately allows Sudan’s access to concessional financing and other services from the World Bank Group including grants in a total amount of $635 million made available immediately to the Government of Sudan of which $215 million in direct budget support and $420 million in additional financing for the family support program (Thamarat).
Sudan introduced a package of economic reforms the latest of which the floating of the national currency, the pound, preceded by lifting subsidies on fuel, wheat and cooking gas. To mitigate the impact it introduced a family support Programme, where badly affected limited income families would receive cash payment in lieu of subsidies. The Programme was dubbed Thamarat, Arabic for dividends
E N D
MO/AS
Photo of the Week
Port Sudan (Sudanow) - Overwhelming joy spreads across Sudan in the blessed days of the holy month of Ramadan with the liberation of the presidential palace buildings, a symbol of the nation's sovereignty and history. And his entry for the first time since the start of the aggression, and its purification from the filth of mercenaries, and their defeat and destruction, between killed an...
More-
16 March, 2025
Sudanese women in Egypt adhere to traditions and seek dignified living
PortSudan( Sudanow)Thousands of Sudanese families came to Egypt searching for security and escaping from the hell of dissolved Militia that wreaked havoc, which had not been witnessed by the wars of ages and it has practiced the violent deadly against the youth , old men and the women were raped brutally even they insulted and raped among of their families and other types of torture. Sudanow met some of the families that obliged to fle...
Contact Us
Address: Sudan News Agency (SUNA) Building, Jamhoria Street, Khartoum - Sudan
Mobile:+249 909220011 / +249 912307547