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(Ecofin Agency) – Since Sudan has been removed from the US terror list, it has been reintegrated into the international financing system and is now negotiating funds to clear its external debt. After the United States, the UK, and Sweden, France is opening its coffer to help the country.
Sudan will benefit from a bridge loan of $1.5 billion from France. The announcement was made last May 17 by French Minister of Economy, Bruno Lemaire (pictured).
The resource was granted on the sidelines of the international conference in support of the Sudanese transition initiated by France and held this Monday in Paris. The main objective is to help Khartoum settle its arrears with its donors or at least to reschedule them.
“President Macron will confirm later today that France will provide the bridge loan of $1.5 billion to clear Sudan’s arrears to the IMF,” said Bruno Lemaire.
Since its removal from the U.S. terror list, Sudan has managed to settle a debt of nearly $1.2 billion to the World Bank, thanks to a previous bridge loan obtained from the United States. In April, the country obtained $413 million in a joint loan from the UK and Sweden to settle debt with the African Development Bank (AfDB).
Sudan seeks the necessary resources to revive its economy while implementing the reforms needed to lead the country to its first free and democratic elections in several years.
Bruno Lemaire says France will do everything possible to “relieve Sudan of its debt burden as soon as possible.
Moutiou Adjibi Nourou
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