France has offered crisis-stricken Sudan a 1.5-billion-dollar bridging loan to help pay its arrears to the International Monetary Fund (IMF), French Finance Minister Bruno Le Maire said on Monday.
“This contribution demonstrates the strength of our partnership and the trust we have in Sudan,” Le Maire said alongside Sudanese Prime Minister Abdalla Hamdok.
The announcement will be formally made later in the day in Paris by French President Emmanuel Macron, who is hosting a summit of several African leaders to garner support for Sudan’s fledgling transitional government.
Le Maire described the conference as an opportunity to bring the East African country back into the “concert of nations” after being largely isolated for more than 30 years.
Sudan was ruled with a heavy hand by president Omar al-Bashir for three decades until he was overthrown by the army in 2019.
Civilians and the military formed a joint transitional government that has been welcomed by the international community.
However, the country is mired in a deep economic crisis, made worse by the coronavirus pandemic.
Earlier this year, Sudan had settled its debts with the World Bank thanks to a bridging loan from the United States government.
By clearing its arrears with the World Bank and the IMF, Sudan is paving the way to receiving poverty-reduction grants as well as a wider debt relief package from the international community. (NAN)
