The Abu Dhabi Fund for Development (ADFD) has announced its plan to transfer $250 million to the Central Bank of Sudan (CBOS) in order to support the Sudanese national currency and strengthen the financial position of the North African country, local media reported on Sunday
CAIRO (Pakistan Point News / Sputnik - 28th April, 2019) The Abu Dhabi Fund for Development (ADFD) has announced its plan to transfer $250 million to the Central Bank of Sudan (CBOS) in order to support the Sudanese national currency and strengthen the financial position of the North African country, local media reported on Sunday.
ADFD Director-General Mohammed Saif Suwaidi and Amna Mirgani Hassan, the general manager of the CBOS' capital markets department, have signed the relevant agreement at ADFD headquarters in Abu Dhabi, the Emirates News Agency specified.
This tranche will come within the framework of the recently announced $3 billion aid that Saudi Arabia pledged on April 21 to deliver to Sudan. While $500 million out of the $3 billion will be poured into support for the CBOS and the Sudanese national currency, $2.5 billion will be provided in form of emergency aid, including food, medicine and oil products.
Following four months of anti-governmental protests, a military coup happened in Sudan on April 11. President Omar Bashir, who had been in power for 30 years, was overthrown and then imprisoned. The Transitional Military Council came to power in the country.
