Politics & News

King Salman relieves Sudan’s debt with a US$20mi grant

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, has provided a US$ 20mi funding to cover part of the financing gap of the Republic of Sudan at the International Monetary Fund. His Highness Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, announced it during a speech on the International Conference in Support of the Transition in Sudan, which took place in Paris, France, with more than 40 countries.

His Highness explained that the Kingdom was one of the first countries supporting this transitional phase in Sudan and made continuous and relentless efforts at the bilateral level to converge views between the Sudanese parties. He appreciated the role of the United States of America, the French Republic, and the United Kingdom for their tireless efforts in supporting Sudan on the Heavily Indebted Poor Countries (HIPC) Initiative.

He also stressed the importance of other countries on the cause and the implementation of the reform agreed upon in the International Monetary Fund program, including those economic and regulatory to stimulate private sector investments.

His Highness ensured the Kingdom would continue to play a constructive and significant role in global and regional development financing underdeveloped nations, as it has done in the past decades, including the Republic of Sudan.

Finally, the prince urged all countries, regional and international financial institutions, and individuals to respond quickly to Sudan’s demands and make swift progress in the debt-relief process to overcome this difficult stage and achieve prosperity.

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