UAE, Saudi Arabia commits $3 billion as financial aid to Sudan

Date:

Trending

Saudi Arabia and the United Arab Emirates said they had agreed to send Sudan $3 billion worth of aid, throwing a lifeline to the country’s new military leaders after protests led to the ousting of president Omar al-Bashir.

- Advertisement -

The two Gulf Arab countries will deposit $500 million with the Sudanese central bank and send the rest in the form of food, medicine and petroleum products, their state news agencies said in parallel statements.

The aid comes amid wrangling between the Transitional Military Council (TMC) and protesters and opposition groups who are demanding that civilians lead a two-year transitional period.

- Advertisement -

The protesters who have kept up a sit-in outside the Defence Ministry since Bashir was removed on April 11. They have demonstrated in large numbers over the past three days, pressing for a rapid handover to civilian rule.

TMC head Abdel Fattah al-Burhan told state TV that the formation of a joint military-civilian council – one of the activists’ demands – was being considered.

“The issue has been put forward for discussion and a vision has yet to be reached,” he said.

“The role of the military council complements the uprising and the blessed revolution,” said Burhan, adding that the TMC was committed to handing power over to the people.

But a coalition of protesters and opposition groups said the TMC was not serious about handing over power to civilians, describing the council as an “extension of the old regime”.

“We have decided to opt for escalation with the military council, not to recognise its legitimacy and to continue the sit-in and escalate the protests on the streets,” Mohamed al-Amin Abdel-Aziz, of the Sudanese Professional Association, told one of the largest crowds outside the defence ministry.

KOBAR PRISON

Burhan also confirmed for the first time that Bashir and a number of former officials, including presidential aide Nafie Ali Nafie, acting party head Ahmed Haroun and former first vice president Ali Osman Taha, are being held at a high-security prison in Khartoum North.

“All of them are at Kobar prison,” he said, adding that “a large number of symbols of the former regime suspected of corruption will stand trial”.

Burhan said authorities had found 7 million euros ($7.8 million) in Bashir’s home, along with $350,000, slightly more than previously reported.

The aid from Saudi Arabia and the United Arab Emirates is the first major publicly announced assistance to Sudan from Gulf states in several years.

“This is to strengthen its financial position, ease the pressure on the Sudanese pound and increase stability in the exchange rate,” the Saudi Press Agency said.

Sudan’s state news agency said the central bank strengthened the Sudanese pound to 45 pounds to the dollar from 47.5, in a measure that coincided with the sharp rise in the price of the pound against the dollar on the parallel market.

The two Gulf states have ties with Burhan and his deputy, Mohamed Hamdan Dagalo, through their participation in the Saudi-led coalition fighting in Yemen.

Sudan has been suffering from a deepening economic crisis that has caused cash shortages and long queues at bakeries and petrol stations.

Analysts have blamed the crisis on economic mismanagement, corruption, and the impact of U.S. sanctions, as well as the loss of oil revenue when South Sudan seceded in 2011.

In October 2017, the United States lifted some trade and economic sanctions on Sudan, but Sudan remained on the list of countries that the United States considers to be sponsors of terrorism.

Burhan said a committee could travel to the United States for discussions about lifting Sudan from the list by next week. Washington has said Sudan will not be removed from the list as long as the military is in power.

The designation makes Sudan ineligible for desperately needed debt relief and financing from international lenders.

The United States agreed in November to talks with Bashir’s government on how to get Sudan removed from the list, but no resolution was reached before his overthrow.

Over the last few years, Sudan’s cash-short government expanded money supply to cover the cost of expensive subsidies on fuel, wheat and pharmaceuticals, causing annual inflation of 73 percent and the Sudanese pound to plunge against the dollar.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

What to Consider When Choosing a Car Battery Repair Shop

When faced with car battery issues, finding the right repair shop becomes necessary. Given the central role a battery plays in the functionality of...

Fintevex Overview: What Traders Need to Know in 2025

In 2025, the trading world is more competitive than ever. With hundreds of platforms fighting for attention, each promising tighter spreads, smarter tools, and faster execution it’s become harder for traders to know which platforms genuinely deliver and which are just noise. This landscape has...

Lexus CarPlay and Android Auto Integration

In the ever-evolving landscape of automotive connectivity, Lexus CarPlay and Android Auto integration have...

Sifx trading platform: What Traders Looking to Profit Should Really Know

sifx.com is an online trading broker that provides access to multiple global markets through...
00:01:49

Trump Claims U.S. Trade Threat Helped Defuse India-Pakistan Ceasefire

On Monday, U.S. President Donald Trump said his administration played a key role in...

Operation Sindoor: India, Pakistan Agree to Ceasefire After High-Level Military Talks

India and Pakistan agreed on Saturday to halt all military activities across land, air,...

The Future of B2B Commerce: E-commerce Platforms and Beyond

The way companies buy items and sell services has changed a lot from the...

No OTPs, No Hassles: The Rise of Passwordless Digital Payments

India is pacing toward a passwordless future in the digital payments ecosystem. Technologically, it’s...

Kriscore Capital Launches ₹100 Cr Fund to Back Early-Stage Indian Tech Startups

Kriscore Capital, a newly launched venture firm focused on early-stage Indian technology startups, has announced the first close of its debut ₹100 crore fund. An...

Why Crypto Traders Are Flocking to Cap-tex Now

A recent surge in cryptocurrency prices, driven by global economic shifts and high-profile endorsements,...

How AI-Powered Online Platforms Are Revolutionizing Life Insurance Recommendations

Anyone with a child, a spouse, a life partner, or a parent as a...

Alphabet CEO Sundar Pichai Increases Stocks Holdings Amid Dividend Adjustment

According to a regulatory filing with the U.S. Securities and Exchange Commission (SEC), Alphabet...

From Arcade to Adventure – The Evolving Face of Entertainment and Why It Counts

Entertainment has always been a reflection of the shifting expectations of society. Earlier, people...

How Technology Helps Combat Various Viruses and Diseases

Technology has transformed the ways we approach vaccines, particularly for the flu. One noteworthy development is the precision in matching flu vaccines to the...

12 Eye-Popping Hacks to Make Your Next Business Presentation Sparkle

Business presentations are often necessary to gain new clients and showcase what it is you can offer, but more often than not, they end up being a bit dull, right? Well, if you read on, soon that will not be the case for your...

The Long-Term Power of Investing: Selecting Undervalued Industries

Investing can seem overwhelming, especially for beginners, as the numerous options and strategies available...

The Impact of EdTech on Student Outcomes in Higher Education

The introduction of interactive whiteboards in the early 1990s marked a major shift in...

The Ultimate Guide to Choosing and Using Fonts in Your Design Projects

Fonts play a crucial role in every design project, from branding and web design...

Predictive Analytics: The Key to Supply Chain Resilience

In today’s interconnected global economy, supply chains are the lifeblood of businesses, weaving intricate...

Empowering Growth: Boosting the Robotics Sector with Targeted Support

India's robotics sector is emerging as a key area of technological progress, driving innovation...

Software and Technology Changing the Industry

The advent of software and technological advancements has been a game-changer across various industries....

Alphabet COA Amie Thuener O’Toole Increases Stock Holdings

In a filing with the U.S. Securities and Exchange Commission (SEC), Alphabet Inc.’s (NASDAQ...

Elon Musk’s X Sues Indian Govt Over Content Regulation Clash

X Corp, an Elon Musk-owned social media firm, sued the Indian government in the...

Interview: Vserve CEO Siva Balakrishnan on SEO Secrets for Amazon Seller Success

In an interview with TechGraph, Siva Balakrishnan, CEO and Founder of Vserve, shared how...

Alphabet CEO Sundar Pichai Increases Stocks Holdings Amid Dividend Adjustment

According to a regulatory filing with the U.S. Securities and Exchange Commission (SEC), Alphabet...

Meta Legal Head Offloads Shares worth $577K

Meta Platforms Inc.’s (NASDAQ: META) Chief Legal Officer, Jennifer Newstead, has sold 921 shares,...

Shell Executive Robin Mooldijk Sells €1.69 Mn in Shares

Shell plc’s Projects & Technology Director, Robin Mooldijk, has offloaded 50,000 shares in the...

BGC Group raises $700 Mn in bond sale to refinance debt

BGC Group, Inc. (NASDAQ: BGC) has finalized a $700 million private offering of senior...

Alphabet Legal Chief John Kent Walker to Sell $2Mn in Shares via Morgan Stanley

Alphabet Inc.’s (NASDAQ: GOOGL) Chief Legal Officer, John Kent Walker Jr., has filed to...

From Arcade to Adventure – The Evolving Face of Entertainment and Why It Counts

Entertainment has always been a reflection of the shifting expectations of society. Earlier, people...

Elon Musk’s X Sues Indian Govt Over Content Regulation Clash

X Corp, an Elon Musk-owned social media firm, sued the Indian government in the...

Why Smart Cities Are the Future of Water Conservation

Water conservation has become an important factor due to climate change and worsened water...

Interview: Vserve CEO Siva Balakrishnan on SEO Secrets for Amazon Seller Success

In an interview with TechGraph, Siva Balakrishnan, CEO and Founder of Vserve, shared how...