US donates $1bn for Sudan debt relief but billions more aid could follow

The US will give a $1 billion bridge loan to the World Bank to help clear Sudan’s arrears with the institution, opening the door to much-needed funding for the economically ravaged African country, Sudan’s finance ministry said.

The move is due “in the coming days” and will lead to Sudan regaining access to the World Bank’s International Development Association, the ministry said in statements to Bloomberg. The comments come after the US on Monday rescinded Sudan’s 27-year designation as a state sponsor of terror.

Read also : Paul Kagame tells Europe to stop asking for what can be done for Africa

The change could in turn allow Sudan to get $1.5 billion in annual development assistance via an initiative for so-called heavily indebted poor countries, according to the ministry. The US government will also provide wheat and unspecified other commodities for four years, it said.
The pledges are the first significant economic boon for Sudan after the US’s long-awaited de-listing. Washington named Sudan a terror sponsor in 1993, citing its links with international Islamist-militant organisations under then-dictator Omar Al Bashir. Four years later, it enacted sweeping sanctions that lasted until 2017.
Read also : Sudan Discovery of mass grave could be linked to deadly sit-in

Frank
Frankhttp://www.fremermedia.com
Frank Fremer is a seasoned journalist, blogger and political analyst for over a decade in Uganda

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