ADFD injects AED1.47 billion into Central Bank of Sudan
ABU DHABI, 23rd January, 2017 (WAM)--Abu Dhabi Fund for Development (ADFD) has deposited AED1.47 billion into the Central Bank of Sudan (CBOS) to secure increased liquidity and stimulate economic growth in Sudan.
Mohammed Saif Al Suwaidi, Director-General of ADFD, signed an agreement to that effect with Hazim Abdegadir Ahmed Babiker, Governor and Chairman of the Board of the CBOS.
Reaffirming the UAE’s keenness in strengthening bilateral relations with Sudan, Al Suwaidi said, "The agreement draws on the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to enhance mutual collaboration and underpin the Sudanese government’s efforts to overcome economic challenges."
"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 added.
Hazim Babiker expressed his deepest appreciation for the UAE’s wise leadership and praised the people of the UAE for their unwavering support to the Sudanese people. He also commended the UAE government on its invaluable assistance to help Sudan overcome its financial and economic challenges.
Lauding the relevance of the agreement, the Sudanese profoundly thanked ADFD for the financial injection that aims to promote monetary and fiscal stability in the country, encourage investment and optimise cash flow.
Since 1976, ADFD has continued to successfully drive sustainable development activities in Sudan across key sectors, most notably energy, transport, water and agriculture.