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News and Press ReleasesSudan and China signs 150-milion-Yuan grant agreement

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Sudan and China signs 150-milion-Yuan grant agreement

12-22-2014, 03:31 PM
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Sudan and China signs 150-milion-Yuan grant agreement

    December 22, 2014-Khartoum-SudaneseOnline-Sudan and China signed 150-milion-Yuan grant agreement and interest-free loan in the amount of 100 million Yuan.
    Sudan’s Minister of Finance and National Economy, Badr al-Din Mahmoud, stressed in press statements on Sunday that the agreement is an indicator of strong relations between China and Sudan, praising China's role in pushing the country's development efforts in the areas of infrastructure, disclosing that the coming period will see more focus on extractive industries in the fields of oil and minerals
    Mahmoud called on China to increase its investments in the productive sectors and engaging in the free trade zones Sudan intends to expand its establishment, especially on boundaries with South Sudan and Chad in order to benefit from Sudanese market and markets of Africa.
    Until South Sudan's secession in 2011, foreign airlines enjoyed a bonanza as Sudan was flush with oil revenues and Khartoum hosted an army of aid workers and U.N. officials, many of which have relocated to the South since then.
    Diplomats said China waited with the loan until Sudan agreed to allow South Sudan's oil exports to transit through its Port Sudan port. Chinese firms dominate oilfields in both countries, and analysts say oil is partly used as payment for Chinese development aid.
                  

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