Saudi Arabia deposits $250 million into central bank of Sudan

31/07/2019 Reuters

 

Saudi Arabia has deposited $250 million into the central bank of Sudan to support its financial position, the Saudi Finance Ministry said in a statement on Tuesday.

 

The financial grant is part of a package with the UAE worth $500 million announced in April. Both countries pledged an overall $3 billion in aid, with the rest going towards fuel, wheat and medicine.

 

The grant is aimed at alleviating pressure on the Sudanese pound and achieve stability in its exchange rate, the ministry said.

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