SAUDI ARABIA TO LEND SUDAN $130 MLN TO SUPPORT HEALTH, EDUCATION SECTORS

Wed 27 November 2019:

Saudi Arabia will lend Sudan 487 million riyals ($130 million) to support the North African country’s education and health sector, said the Saudi Fund for Development (SFD).

The loan will be provided by the SFD, which noted that half of the amount will be allocated for the health sector, while the other half should be utilized to support Sudan’s education services.

The loan is not valid until both parties sign, a process that could take up to 3 to 4 months, an official from the Saudi Fund told Al Arabiya English.

Sudan said earlier this month that it would receive a $305 million loan from the Arab Monetary Fund to help ease the country’s worsening economic crisis sparked by a foreign currency shortage and high food prices.

Sudan’s economic troubles had led to mass protests across the country that resulted in the ouster of longtime ruler Omar al-Bashir in April 2019.

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