Saudi Arabia deposits $250 Million into Central Bank of Sudan’s Account in support of Sudan Economy
Further to what has been published on April 21, 2019 to provide a joint package of aid by Saudi Arabia and UAE to Sudan totaling USD 3 billion; USD 500 million has been provided by both countries as a deposit in the Central Bank of Sudan to strengthen its financial position, alleviate pressure on the Sudanese pound and achieve more stability in the exchange rate. The remaining amount will be allocated to meet urgent needs of the Sudanese people, including food, medications and oil derivatives.
Acting on the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, the Ministry of Finance has deposited SAR 937,500,000 (nine hundred thirty seven million and five hundred thousand riyals, equaling two hundred fifty million USD dollars) into the Central Bank of Sudan’s account.
On this occasion, H.E. Mohammed Abdullah Al-Jadaan, Minister of Finance, confirmed that this deposit constitutes an extension of KSA’s support to the Sudanese people. Adding that this support will strengthen the financial and economic situation in the Republic of Sudan, especially the exchange rate of the Sudanese pound, which should reflect positively on the living conditions of the Sudanese citizens.