Media ININ Economy We Trust
28-04-2019 Media in \Abu Dhabi
Abu Dhabi Fund for Development (ADFD) today signed an agreement with the Central Bank of Sudan to deposit $ 250 million, equivalent to AED 918 million, to support the bank’s fiscal policy and achieve financial and monetary stability in Sudan.
The deposit comes as part of a $ 3 billion US-Saudi joint aid package to Sudan to support the economy and meet the basic needs of the Sudanese people.
The agreement was signed by Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, and Amana Mirghani Hassan Al-Tom, Director General of Financial Markets, Central Bank of Sudan, in the presence of Khalifa Al Qubaisi, Deputy General Manager of the Fund and a number of officials from both sides.
The agreement was signed under the kind directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Our wise leadership is keen to support the Sudanese economy and maintain its financial and monetary stability.
He added that the relations between the UAE and Sudan are a role model for fraternal relations between brotherly countries, pointing out that Abu Dhabi Fund for Development is keen to strengthen these relations and support through continuing the path of achieving comprehensive development in Sudan, which began more than three decades ago.
He said that the Fund has financed several strategic projects in Sudan that have had a direct impact on Sudanese society and have boosted the economic growth of the country.
Ms. Amna Mirghani praised the support provided by the leadership and government of the United Arab Emirates to the Sudanese people and affirmed Sudan’s appreciation for the efforts exerted by the UAE to help Sudan to improve the economy and overcome financial and economic challenges.
She also expressed her thanks and appreciation for the cooperation shown by the Abu Dhabi Fund for Development through this important time deposit, noting that it will enhance monetary and financial stability, ease the pressures facing the Sudanese pound and achieve more stability in the exchange rate.
The Abu Dhabi Fund for Development signed an agreement with the Central Bank of Sudan in January 2017 to deposit 1.470 billion dirhams ($ 400 million) in the Central Bank of Sudan to contribute to the economic development of Sudan.
It is noteworthy that the Abu Dhabi Fund for Development began its development activities in Sudan since 1976, where the Fund has funded many development projects in key sectors such as industry, energy, transport, communications, water, irrigation and other key strategic sectors in Sudan.
