Grant of 370 Million Dollars from World Bank to Support Economic Reforms

2020-10-23 16:12:20.843 | view 251 | share : |


Khartoum, Oct. 23 (SUNA) – An agreement was signed Friday at the World Bank headquarters in Khartoum between the Government of Sudan and the World Bank on a grant of 370 million dollars, in the presence of the Minister of Finance and Economic Planning, the Minister of Labor and Social Development, the Governor of the Central Bank of Sudan and the Country Director of the World Bank.

The agreement was signed by the Minister of Finance and Economic Planning, Dr. Hiba Mohamed Ali, and the Country Director for the countries of Sudan, Eritrea, Ethiopia and South Sudan at the World Bank, Osman Dayon.

Dr. Hiba explained during the signing ceremony that the grant is worth 370 million dollars and includes 200 million dollars from the World Bank as a pre-exemption grant and 170 million dollars from Sudan European partners, namely the European Union, Germany, Ireland, the Netherlands and Sweden.

She said that the grant will be allocated as direct support to the Sudanese citizens, especially needy families, through the Family Support Program, adding that the grant is also considered a great support for structural economic reforms towards economic recovery, inflation under control and reactivating the production.

Mr. Osman Dayon said that Sudan has taken steps that deserve support and admiration, and that this is a tribute to Sudan government for the start of a new phase of democratic rule.

He said that Sudan had not received support from the World Bank for 29 years and now it is back to the international community and will benefit from international support, international financing institutions, indicating that the government will receive assistance for the necessary reforms of the economy and improving the lives of citizens.

Dayon stated that these reforms are necessary for Sudan to benefit from debt relief, affirming the World Bank's readiness to provide technical support to Sudan and various types of support to help it in economic reforms.