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

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.


Eastern Libya forces say 16 Turkish soldiers killed in fighting

Updated 23 February 2020

Eastern Libya forces say 16 Turkish soldiers killed in fighting

BENGHAZI: Forces loyal to Libyan eastern-based commander Khalifa Haftar said on Sunday they had killed 16 Turkish soldiers in recent weeks, a day after Turkey acknowledged it had lost several "martyrs" in combat in the north African country.
Khalid al-Mahjoub, a spokesman for Haftar's Libya National Army (LNA), said the Turks were killed in the port city of Misrata, in battles in Tripoli and in the town of al-Falah south of the capital.
Turkey backs Libya's weak internationally recognised Government of National Accord (GNA) and has sent Syrian soldiers along with some of its own soldiers and weapons.
Haftar's forces are backed by the United Arab Emirates and Egypt.
Turkish President Tayyip Erdogan on Saturday acknowleged some Turkish losses in Libya's "struggle".
"We are there (in Libya) with our (Turkish) soldiers and our teams from the Syrian National Army. We continue the struggle there. We have several martyrs. In return, however, we neutralized nearly a hundred (of Haftar's) legionaries," Erdogan said.
The Syrian National Army, also known as Free Syrian Army, is a Turkey-backed Syrian rebel group fighting against pro-Damascus forces in northern Syria, where 16 Turkish soldiers have been killed so far this month.
The deployment of Turkish soldiers and sophisticated air defences has erased small gains made by the LNA with the help of Russian mercenaries, returning the frontline roughly to where it was at start of Haftar's campaign in April 2019.
Ceasefire talks between Libya's warring sides resumed on Thursday after the GNA had pulled out of negotiations following the shelling of Tripoli's port by Haftar's forces.