Abu Dhabi fund to deposit $250m into Sudan’s central bank

Sudanese protesters from the city of Kassala, sitting atop a bus, arrive to join the sit-in outside the army headquarters in the capital Khartoum on April 27, 2019. (AFP)
Updated 28 April 2019
0

Abu Dhabi fund to deposit $250m into Sudan’s central bank

  • Deposit part of $3 billion grant to Sudan announced by UAE and Saudi Arabia
  • Nations called for "stability" and "peaceful transition" in days following the removal of Al-Bashir

LONDON: The Abu Dhabi Fund for Development (ADFD) is to deposit $250 million into Sudan’s central bank as part of a previously-announced grant.

The move aims to secure increased liquidity and strengthen the financial position of Sudan, the UAE state news agency WAM said on Sunday, following the toppling of President Omar Al-Bashir.

Mohammed Saif Al-Suwaidi, director-general of the state-funded ADFD, said the UAE aims to support the Sudanese people and economy.

“ADFD and the government of Sudan have enjoyed strong and longstanding ties dating back to 1976. The fund’s development projects have significantly contributed to improving socio-economic conditions and driving sustainable growth,” he said.

The deposit is part of a $3 billion grant to Sudan announced by Saudi Arabia and the UAE earlier this month.

The grant includes a $500 million deposit into Sudan’s central bank, evenly split between the two countries.

The rest will be in the form of food, medicine and petroleum products.

 

In recent years Sudan has been hit by an acute lack of dollars, a key factor behind the nationwide protests that led to the toppling of Al-Bashir by the army earlier this month.

Saudi Arabia and the UAE called for “stability” and a “peaceful transition” in the days following the removal of Al-Bashir.

To date, ADFD has financed 17 development projects in Sudan with a total value of approximately 2 billion dirhams ($545 million), WAM reported.

In 2017, the fund granted almost 1.5 billion dirhams to support liquidity and foreign currency reserves at Sudan’s central bank. 

FASTFACTS

Sudan’s economic crisis triggered mass protests that led to the ouster of former President Omar Al-Bashir earlier this month. The country of 40 million has been suffering from rapid inflation and shortages of cash, fuel and other basic products. A transitional military council took over from Bashir. Demonstrations have continued as protesters call for a rapid handover of power to civilians.


Turkey sends weapons to opposition fighters in Syria

Turkish-backed Syrian opposition fighters get a major boost as Ankara backs them with fresh supplies of weaponry to help them hold their ground. (Reuters)
Updated 26 May 2019
0

Turkey sends weapons to opposition fighters in Syria

  • Ankara signals readiness to preserve its influence in Syria’s Idlib province in northwestern region

AMMAN: Turkey has equipped an array of mainstream Syrian opposition fighters it backs with fresh supplies of weaponry to help them try to repel a major Russian-backed assault, senior opposition officials and opposition sources said on Saturday.
Russia is backing the Syrian army’s large aerial and ground assault as it seeks to gain control of the last big stretch of opposition-held territory in the northwest of the country.
Syria’s Bashar Assad launched the assault last month, saying fighters had breached an existing cease-fire, triggering a civilian exodus by bombarding Idlib and adjacent areas. It has been the biggest escalation since last summer between Assad and the opposition fighters in Idlib province and a belt of territory around it.
Ankara stepped up supplies in recent days after failing to persuade Russia in recent meetings of a joint working group that it should end its escalation to avert a major influx of refugees pouring into Turkey, two senior opposition figures said.

FASTFACT

Ankara stepped up supplies in recent days after failing to persuade Russia in recent meetings of a joint working group that it should end its escalation to avert a major influx of refugees pouring into Turkey.

In doing so Turkey signaled its readiness to preserve its influence in northwestern Syria, where it has beefed up its troop presence in a dozen military bases that were set up under a de-escalation deal with Russia, a senior opposition commander said. Turkish officials were not immediately available for comment.
Overnight, a Turkish military convoy arrived in a base in northern Hama near opposition-held Jabal Al-Zawiya, where Russian and Syrian jets have been pounding for weeks, a fighter and a witness said.
The delivery of dozens of armored vehicles, Grad rocket launchers, anti-tank guided missiles helped roll back some army gains and retake the strategically located town of Kfar Nabouda.