ADFD signs $100m loan deal with Sudan

The Abu Dhabi Fund for Development (ADFD) has signed a $100 million (Dh367.3m) loan agreement with the Government of Sudan to contribute in supporting that country's balance of payment.

Director General of the Abu Dhabi Fund for Development Mohammed Saif Al Suwaidi signed on behalf of the Abu Dhabi Fund for Development, while Sudanese Finance and National Economy Minister Dr Awadh Al Jaz, who is currently visiting the country, signed on behalf of the Government of Sudan.

Al Suwaidi stressed the significance of the UAE leadership's instructions to support the developmental projects in Sudan to boost relations between the two peoples, indicating that "the $100m loan aims at upgrading the economical situation in Sudan through supporting Sudan in balance of payment".

The two sides also inked Memorandum of Understanding on preparing feasibility study on constructing Khartoum Port Sudan road as per world-class standard to facilitate traffic in those areas.

Al Jaz lauded the relations between the UAE and Sudan, highlighting the pivotal role played by the Abu Dhabi Fund for Development in the critical developmental process in Sudan, citing many vital projects in the country.

The Abu Dhabi Fund for Development has financed a number of projects worth billions.

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