United States signs $1.2bn loan deal with Sudan

Sudan on Wednesday signed a short-term loan of $1.2bn with the United States and signed another pact to normalise relations with Israel.

According to the prime minister’s office, the deal was signed by Justice Minister Nasredeen Abdulbari with US Treasury Secretary Steven Mnuchin.

It is the first visit to Sudan by Mnuchin since the US removed the country from its list of “state sponsors of terrorism” last month.

“This is a very, very significant agreement,” said Mnuchin.

“It would have a tremendous impact on the people of Israel and the people of Sudan as they continue to work together on cultural and economic opportunities and trade.”

Sudan’s Acting Minister of Finance Hiba Ahmed and Mnuchin also “signed a memorandum of understanding in Khartoum to provide a same-day bridge financing facility to clear Sudan’s arrears to the World Bank”, said her office in a statement.

“This move will enable Sudan to regain access to over $1 billion in annual financing from the World Bank for the first time in 27 years,” added the statement.

Sudan has more than $60 billion in foreign debt.

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