Sudan to receive $330 million bridge loan from UK to clear ADB debt

Sudan is set to receive a $330 million bridge loan from Britain to help clear its more than $400 million in arrears to the African Development Bank.

According to British Foreign Secretary Dominic Raab, Britain was supportive of the effort and had signed a memorandum of understanding to disburse $40 million to Sudan’s family support cash transfer program as part of a pledge made at a donor conference last year.

Britain would provide £125 million in aid to its former colony, Sudan, during the current financial year including support for the creation of a transitional parliament, Raab said.

“We are committed absolutely to this country’s transition forward and I look forward to working with the civilian government to take it to the next stage,” Raab said at a press conference in Khartoum.

Sudan’s removal from a U.S. list of state sponsors of terror late last year has paved the way for the Eastern African nation to begin the process of clearings its approximately $60 billion in foreign debt, a step required before seeking further loans.

The deal also opened up normalization of ties with Israel, a move that has slowed down due to opposition from some Islamist groups and opposition parties.

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