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Abu Dhabi Fund Deposits USD400 Million in Central Bank of Sudan | ASHARQ AL-AWSAT English Archive 2005 -2017
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Displaced South Sudanese families are seen in a camp for internally displaced people in the United Nations Mission in South Sudan (UNMISS) compound in Tomping, Juba, South Sudan, July 11, 2016. Photo/REUTERS

Abu Dhabi- Abu Dhabi Fund for Development (ADFD) and Central Bank of Sudan have signed an agreement that stipulates depositing AED1.47 billion (USD400 million) into the Central Bank of Sudan to secure increased liquidity and stimulate economic growth.

The agreement was signed in the headquarters of ADFD by Mohammed Saif Al Suwaidi, director-general of ADFD, and Hazim Abdegadir Ahmed Babiker, governor and chairman of Sudan’s Central Bank.

Suwaidi said that the agreement aims 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.

Suwaidi added that the signed agreement came in tandem with guidelines of President Sheikh Khalifa bin Zayed al-Nahyan and Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, launching from their keenness to reinforce historic relations between the two countries.

For his part, Babiker expressed his deepest appreciation to the UAE government and people for the efforts exerted to support Sudan in stimulating economy and overcoming economic and financial challenges.

“The deposit of ADFD comes on time – it will reinforce monetary and financial stability in Sudan and will support liquidity and reserves at the central bank,” he added.