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Saudi Arabia donates $250 million to Sudanese central bank

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Saudi Arabia said on Sunday it deposited $250 million with the Sudanese central bank, according to a statement from the kingdom’s ministry of finance.

Saudi Arabia and the United Arab Emirates pledged to send $3 billion worth of aid to Sudan, after mass protests led to the ouster of president Omar al-Bashir last month.

The move will strengthen Sudan’s “financial position, alleviate pressure on the Sudanese pound and achieve more stability in the exchange rate,’ the statement said.

he $ 3-billion financial aid included $ 500 million provided by the two countries as a deposit to the Central Bank of Sudan. The remained is intended to supply Sudan with much-needed food, medicine and energy.

Since 2018, a series of currency exchange crises have rocked confidence in Sudan’s finances.

Following widespread protests, on 11 April, the Sudanese army ousted president Omar Al-Bashir after three decades in power.

The army has formed a transitional military council and set a two-year term, amid attempts to reach an understanding with opposition groups.

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