Saudi Arabia announces $20m grant to help cover Sudan’s debt with IMF

Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan headed the Kingdom’s delegation at the International Conference in Support of Sudan in Paris. (SPA)

• King Salman and the crown prince were keen to ease Sudan’s debt burden

LONDON: Saudi Arabia has provided a $20 million grant toward covering part of Sudan’s financial debt with the International Monetary Fund (IMF).
Foreign Minister Prince Faisal bin Farhan said the grant was an extension to previous support provided by the Kingdom to Sudan.
He was speaking as he led the Kingdom’s delegation at the International Conference in Support of Sudan in Paris on Monday.
Saudi Arabia also announced it would transfer the balance into the two emergency and deferred fees accounts with the IMF, to contribute to the handling of arrears and alleviate Sudan’s debt burden.
Prince Faisal said that King Salman and Crown Prince Mohammed bin Salman were keen to ease Sudan’s debt burden and contribute to addressing the nation’s arrears, in addition to “enhancing Saudi investments in Sudan and the Kingdom’s support for all sectors that would achieve the aspirations of the Sudanese people toward further progress, prosperity and development,” Saudi Press Agency reported.
“What unites us together today is our common goal to support the transitional phase that Sudan is going through toward a bright and prosperous future, and based on this, on April 13, 2019, my country announced its full support for the Sudanese people regarding their future and the measures taken are in their interest.”
He said that the Kingdom provided a package of humanitarian and development aid.
Prince Faisal said that the Kingdom was one of the first countries that contributed and participated, through the framework of the Friends of Sudan Group, in supporting this transitional phase in Sudan.
“This comes from my country’s belief in the importance of activating Sudan’s regional role and providing everything that would protect Sudan and preserve its security,” Prince Faisal added.
He said he appreciated the roles of the US, France, and the UK and their tireless efforts in supporting Sudan under for the Heavily Indebted Poor Countries (HIPC) Initiative.
The Kingdom’s Finance Minister Mohammed Al-Jadaan also attended the conference in the French capital, which was part of the Summit on the Financing of African Economies that is attended by more than 40 countries and will continue until Tuesday.