Riyadh Provides Sudanese Central Bank With $250Mln In Financial Aid - Finance Ministry

Saudi Arabia donated $250 million in financial assistance to the Sudanese Central Bank to support the country's economy, the Saudi Finance Ministry said on Sunday in a statement

MOSCOW (UrduPoint News / Sputnik - 19th May, 2019) Saudi Arabia donated $250 million in financial assistance to the Sudanese Central Bank to support the country's economy, the Saudi Finance Ministry said on Sunday in a statement.

"Acting on the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, the Ministry of Finance has deposited SAR 937,500,000 (nine hundred thirty seven million and five hundred thousand riyals, equaling two hundred fifty million USD dollars) into the Central Bank of Sudan's account," the ministry said.

According to Saudi Finance Minister Mohammed Abdullah Al-Jadaan, the donation was made to extend the kingdom's support for the people of Sudan.

"This support will strengthen the financial and economic situation in the Republic of Sudan, especially the exchange rate of the Sudanese pound, which should reflect positively on the living conditions of the Sudanese citizens," the ministry stressed.

On April 21, Saudi Arabia and the United Arab Emirates decided to provide Sudan with $3 billion in aid: $500 million for the Sudanese Central Bank and the rest for meeting the urgent needs of the Sudanese people.