UAE pledges $50 million to support Sudan’s economic growth

UAE decides to support Sudan ease an economic crisis happening for years now and pledges $50 million for it.

 

UAE has always been one of the helping hands in providing and helping the needy and now is no different when Sudan is at its worst state. Apart from UAE, in an initiative taken by Germany, different countries are coming to support the worsening condition of Sudan and till now have managed to raise $1.8 billion dollars. The European Union pledged 312 million euros ($350.13 million), the United States $356.2 million, Germany 150 million euros, France 100 million euros, and Britain £150 million for humanitarian and development programmes, chief among them planned cash transfers to poor families with the help of the World Bank, officials said at the online event.

 

Prime Minister of Sudan, Abdalla Hamdok, is in a transitional power sharing deal with the military and is hoping for a lot of foreign support to make the country stand back on its feet.

“We expect our partners to support us to have a successful transition,” he said. “I do not paint a rosy picture. Any transition is messy and there are so many challenges.”

The interim government is tackling a lot of problems, the economic crisis being one of the major one’s, since they took over the office last year. This has become even more challenging with coronavirus in the view. Positive coronavirus cases have crossed 8,000 with over 500 deaths. Health care in the country is suffering as it is. This support from countries, 40 in total, will not only help the nation fight corona but also help in this transitional phase of shift of the power and stabilizing the economy. Sudan’s currency has plunged to 141 to the dollar compared to 55 at the official rate. They have lost all of their oil revenue when South Sudan seceded in 2011.