African Development Bank agrees to settle Sudan’s $ 413 million arrears

The Board of Directors of the African Development Bank Group (AfDB) approved a proposal to settle the $ 413 million arrears of the loans owed by the Sudan.

The Bank Group has completed today the arrears liquidation process, preparing the country for immediate access to new financing, as well as the settlement of the arrears due to the African Development Bank Group by the Sudan’s Government.

The settlement made by the support of the United Kingdom government, through a bridge financing of 148 million pounds sterling to repay Sudan’s arrears due to the African Development Fund, while Sweden provided a financing grant of about 4.2 million dollars to cover Sudan’s share of the burden of the operation, beside the commitment of the Republic of Ireland to providing 150,000 euros to service Sudan’s future debts.