Saudi Arabia sends $250 mln to Sudan for financial assistance

20/05/2019 Argaam

 

Saudi Arabia on Sunday deposited $250 million with the Sudanese central bank, according to a statement from the Kingdom’s Ministry of Finance.

 

“The move will strengthen Sudan’s financial position, alleviate pressure on the Sudanese pound and achieve more stability in the exchange rate," the statement said.

 

Saudi Arabia and the UAE have now deposited $500 million into Sudan’s Central Bank, the first instalment of the joint package of aid.

 

The remaining amount will be allocated to meet the urgent needs of the Sudanese people, including food, medications and oil derivatives.

 

Mohammed Al-Jadaan, the Kingdom’s Minister of Finance, confirmed that this deposit constitutes an extension of Saudi Arabia’s support to the Sudanese people.

 

“This support will strengthen the financial and economic situation in Sudan, especially the exchange rate of the Sudanese pound, which should reflect positively on the living conditions of the Sudanese citizens,” he added.

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