Time now is Today Latest update 10:29:00 PM

Local news - Economy

AfDB sets up programs to support Sudan economy and strategy for external debt relief

Khartoum, Oct 12 (SUNA) - The Ministry of Finance and Economic Planning has unveiled a study by the African Development Bank Group (AfDB) for Sudan to develop economic recovery programs for the following the post-lifting economic embargo period in the context of the government's plans to prepare for the current phase.
The State Minister at the Ministry of Finance and Economic Planning Majdi Hassan Yassin revealed, during his farewell Thursday at his office the AfDB Resident Representative in Khartoum Dr. Abdul B. Kamara on the occasion of the end of his term and receiving his successor Dr. Robel, the arrival of the AfDB chief economist of the bank to Sudan during the few past weeks to study the development of programs for economic recovery to be submitted to the AfDB Board of Directors during the next month.
Yassin disclosed preparation of a clear strategy for the exemption of foreign debt by benefiting from the AfDB experts, praising the efforts of Dr. Kamara, who during his term of office, Sudan received grants from the Bank exceeded US $ 200 million. "We look forward to fruitful and constructive relations for the next period and move to a new stage of the direct funding from the Bank to the private sector ".
The Planning Undersecretary at the Ministry of Finance Abdullah Ibrahim stressed the importance of the AfDB trend to finance the private sector for its consistent with the government's attitude to relying on the private sector in economic development through dealing in large projects and building partnerships with the public sector in infrastructure and strategic projects.
Dr. Kamara stressed the depth of relations between the Bank and Sudan, revealing that the period of his AfDB representation in Sudan started since the year 2011 and witnessed AfDB provision of support to the Sudan economy in various sectors including basic services, poverty reduction strategy and recently debt relief strategy as well as the development of programs to support the government's plan to strengthen the economic capabilities of the debt exemption strategy.
For his part, Dr. Robel, the new AfDB representative presented his plan on the direct financing of private sector projects in Sudan during 2018-2019 to the Board of Directors of the Bank and then its follow-up, indicating that he is specialized in the private sector and partnerships.