World Bank is to address Sudan’s problems in the areas of development

World Bank is to address Sudan’s problems in the areas of development

03-10-2015, 04:49 PM


Post: #1
Title: World Bank is to address Sudan’s problems in the areas of development
Author: SudaneseOnline News
Date: 03-10-2015, 04:49 PM

04:49 PM Mar, 10 2015
Sudanese Online
SudaneseOnline News-Khartoum Sudan
My Library at SudaneseOnline

The World Bank has promised to take action to address Sudan’s problems in the areas of development and poverty reduction, in coordination with development partners.
The Executive Director of the World Bank acknowledged Sudan’s right in taking advantage of Bank assistance by virtue of its membership in the World Bank Group and the latter's commitment to the pursuit of economic development and poverty reduction in Member States.
During his meeting with Sudan’s Finance Minister, Dr. Badr al-Din Mahmud, on Monday, the Director promised to help Sudan in solving its problems by raising these problems to the competent authorities in the Bank, in coordination with the International Monetary Fund (IMF) and the development partners.
For his part, Sudan’s Minister called on The Bank to help Sudan to address foreign debt under the zero option agreed South Sudan, stressing the country’s commitment to sustainability of peace and its requirements in the region
He said that Sudan is looking forward to Bank help regarding the foreign debt after Sudan met all technical conditions for debt relief.
The "zero option" agreement was made in September 2012 under which Sudan would retain all external liabilities after the secession of South Sudan, provided the international community gave firm commitments on delivery of debt relief to Sudan within two years.

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