UAE and Sudan explore new ways to boost economic cooperation

Abu Dhabi Fund for Development’s (ADFD) leading role in strategic financing of development projects that help stimulate the economy and overcome financial challenges was discussed at a meeting between Mohammed Saif Al Suwaidi, Director-General of ADFD and Dr Maryam Al-Sadiq Al-Mahdi, Minister of Foreign Affairs of Sudan.

A high-level delegation from Sudan headed by Dr Al-Mahdi met Al Suwaidi at ADFD headquarters, and explored potential areas of cooperation. The two sides discussed bilateral relations and explored ways of enhancing synergies in shared areas of interest.

Speaking on the occasion, Al Suwaidi said, “The UAE and Sudan have enjoyed strong and long-standing brotherly ties dating back decades. Thanks to the directives of the wise leadership, the Abu Dhabi Fund for Development is keen to strengthen and support these relations by continuing the process of achieving comprehensive development in Sudan. Today’s visit is an important opportunity to meet and discuss relations, and avenues for strategic development and cooperation.”

Praising the partnership between the Fund and the Sudanese government as a model of constructive collaboration, Al Suwaidi noted that the Fund is continuing to coordinate with the Sudanese government in the implementation of the remainder of projects earmarked through the UAE’s $1.5 billion aid package to Sudan announced in April 2019.

The aid package aimed at maintaining Sudan’s economic and financial stability, as well as supporting the health, education, and agriculture sectors.

Dr Al-Mahdi, in turn, extended her appreciation to the UAE’s leadership and people for their unwavering support to bolster comprehensive sustainable development, support the government in facing challenges during difficult times, and enable the Sudanese people to lead more prosperous lives.

She also praised ADFD’s commitment to promoting sustainable growth and prosperity of various economic sectors in Sudan.

In April 2019, the UAE pledged an aid package aimed at maintaining Sudan’s economic and financial stability worth $1.5 billion. As part of the package, the UAE also deposited a financial allocation of $250 million into the Central Bank of Sudan, to strengthen the Bank’s financial position. UAE also supported the Sudanese government balance of payment with US$119.8 million.

Moreover, the UAE dispatched 540,000 tonnes of wheat worth $144 million to enhance food security in Sudan, 136,000 tonnes of medicines and medical supplies with a value of $19.75 million, as well as $10.8 million worth of wheat packing bags. ADFD also supplied school and educational supplies, valued at $11.4 million, to cover the needs of 400,000 students.

Khalifa Al Qubaisi, Deputy Director-General of ADFD; Mohammed Amin Abdullah Al-Karib, Sudanese Ambassador to the UAE, and high-level officials from both countries attended the meeting.

Since the commencement of its development activities in Sudan in 1976, ADFD has supported the Sudanese government in its efforts to improve the country’s strategic development by financing important projects across key sectors including in industry, energy, transportation, water, and irrigation.

Mohammed Saif Al Suwaidi stated recently that the fund has helped finance hundreds of development projects in Jordan costing Dhs6.5 billion, enabling the Jordanian Government to achieve its economic and social priorities and drive the process of sustainable development.

In his statement on the occasion of the UAE’s participation in Jordan’s celebration of its 100th anniversary on April 11, Al Suwaidi said that the fund has had strategic ties with the Jordanian Government for over four and a half decades, and has been a true partner in financing strategic projects that are national priorities.

The projects financed by the fund in Jordan have directly contributed to realising the Jordanian Government’s visions and objectives and supported local development programmes, he added, noting that these projects focus on vital sectors, most notably education, health, transport, energy, agriculture, irrigation, housing and infrastructure, due to the fund’s keenness to support developing countries and enable them to achieve their development goals.

The fund financed development projects in the energy sector worth Dhs1.376 billion. The fund has helped launch strategic water and irrigation projects worth some Dhs237 million, which have positively affected the Jordanian economy. The fund plays a key role in the development of Jordan’s agriculture sector, by financing three key projects worth Dhs135 million.

WAM