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UK to extend £330 million bridge loan to clear Sudan’s debt to ADB

BRITAIN will provide a £330 million bridge loan to help Sudan clear its more than $400 million in arrears to the African Development Bank, British Foreign Secretary Dominic Raab said on Thursday.

London, United Kingdom. Foreign Secretary Dominic Raab reviews new Global Human Rights Sanctions Regime Designations, in the Foreign & Commonwealth Office. Picture by Pippa Fowles / No 10 Downing Street.

Sudan’s removal from a U.S. list of state sponsors of terror late last year has paved the way for Sudan to start the process of clearing its approximately $60 billion in foreign debt, a necessary step toward seeking further financing.

Raab said Britain was supportive of that effort and said he had signed a memorandum of understanding to disburse £40 million to Sudan’s family support cash transfer program, part of a pledge made at a donor conference last year.

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

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“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.

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By The African Mirror

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