Saudi Arabia commits to grant Sudan $1.5bn

According to Sudanese officials, Saudi Arabia has committed to pay $1.5 billion to Sudan as part of the economic aid package it approved for the country in 2019.

On Thursday, the Sudanese News Agency (SUNA) quoted officials stating: “An amount of $750 million had been deposited in the Sudanese government account,” explainingthat: “$500 million of the amount will be allocated to help solve the crisis of wheat, medicine, oil and some other commodities.

The Saudi Kingdom and the United Arab Emirates (UAE)announced the provision of $3 billion in aid to Sudan in April 2019, following President Omar Al-Bashir’s departure under the weight of protests that lasted for months.

Last Wednesday, the Sudanese government confirmed that it had reached an agreement with Saudi Arabia on a framework for the resumption of economic cooperation between the two countries.

The Sudanese government issued an official statement at the end of a visit made by Abdalla Hamdok to Saudi Arabia, during which he met with the governor of the Saudi Central Bank and the assistant minister for international affairs and financial policies. The official discussions were preceded by a meeting with Crown Prince Mohammed Bin Salman.

According to the statement, the two sides discussed “bilateral investment and development cooperation”, and set: “Final frameworks for the resumption of investment and development cooperation, the results of which will become apparent in the coming days.”

According to the Saudi Chamber of Commerce, the volume of trade exchange between the two countries has reached around$8 billion in 2019.

Last February, Head of the Sudanese Sovereignty Council Abdel Fattah Al-Burhan praised: “Saudi Arabia’s positions in support of Sudan and the advanced level of bilateral relations between the two countries.”

Al-Burhan affirmed: “Sudan’s keenness to develop joint cooperation with Saudi Arabia in the economic and trade sectors,” and promised to facilitate the entry of Saudi investments and remove all obstacles.