Embassy of the Republic of the Sudan in Berlin

Agreement to Waive Arrears of Debts of African Development Bank Signed

Khartoum, May 5 (SUNA) – Two agreements were signed Wednesday at the Ministry of Finance between the ministry and the African Bank, the first deals with a bridge loan amounting to 425 million dollars to remove the arrears of the debts of the African Development Bank between the Ministry of Finance and the African Development Bank, and the second a grant from the African Bank to support economic and financial reforms in Sudan, amounting to 207 million dollars. The two agreements were signed by the Minister of Finance, Dr. Jibril Ibrahim, and the Regional Director of the African Development Bank for East Africa, Ms. Nnenna Nwabufo. In a press statement, the Minister of Finance, Dr. Jibril Ibrahim, appreciated the role of the African Development Bank in the fields of technical support and reducing the rate of poverty. On her part, Ms. Nwabufo said that the agreements’ signing will enable the bank to do more do more for supporting the Sudanese economy, especially since the Sudanese government has begun implementing measures of economic reform with the help of the International Monetary Fund. MO