Abu Dhabi fund invests $400m into Sudanese bank

Abu Dhabi Fund for Development (ADFD) has deposited Dh1.47 billion into the Central Bank of Sudan to secure increased liquidity and stimulate economic growth in the North African country.

Mohammed Saif Al Suwaidi, the director general of ADFD, signed an agreement to that effect with Hazim Abdegadir Ahmed Babiker, governor and chairman of the board of the Central Bank of Sudan.

Reaffirming the UAE’s keenness in strengthening bilateral relations with Sudan, Al Suwaidi said: "The deep-rooted affiliation between our two countries is a prime example of productive collaboration among nations."

"Over the past few decades, the UAE has proactively supported the long-term socio-economic development efforts of the Sudanese government," he stated.

Babiker lauded the UAE’s wise leadership for its unwavering support to the Sudanese people and its invaluable assistance in overcoming financial and economic challenges in the country.

He also thanked ADFD for the financial injection aimed at promoting monetary and fiscal stability in the country and encourage investment and optimise cash flow.

A national organization owned by the Abu Dhabi government, ADFD has been successfully driving sustainable development activities in Sudan across key sectors, most notably energy, transport, water and agriculture since 1976.-TradeArabia News Service

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