Sudan and China Sign Protocol to Cancel Four Interest-Free Loans Worth 340 Million Yuan
Sudan and China on Sunday signed a protocol under which the Chinese government agreed to cancel part of Sudan's debt, writing off four interest-free Chinese loans owed by the Sudanese government with a total value of 344.52 million Chinese yuan (Renminbi), equivalent to approximately US$50 million.
The protocol was signed on behalf of the Sudanese government by Finance Minister Dr. Gebreil Ibrahim, while China's Chargé d'Affaires to Sudan, Xu Jian, signed on behalf of the Chinese government.
The two sides agreed that the protocol would enter into force immediately upon signature, with the Central Bank of Sudan and the China Development Bank undertaking the necessary procedures to settle the accounts related to the debt cancellation.
Dr. Gebreil Ibrahim praised the longstanding and distinguished economic cooperation between the two friendly countries, reaffirming Sudan's commitment to preserving and expanding the partnership. He noted that China had continued to support Sudan during difficult periods when Western countries refrained from investing in the country, highlighting China's role in developing Sudan's oil sector and its support for Sudan in regional and international forums.
He also stressed Sudan's importance as a gateway for Chinese investment in Africa, welcoming China's decision to exempt exports from 50 African countries from customs duties and describing it as an important initiative. He further revealed China's readiness to provide capacity-building and mid-level management training for Sudanese civil servants across various sectors, including programmes at the AIBO Institute.
For his part, Chargé d'Affaires Xu Jian reaffirmed China's commitment to supporting Sudan's economic development, easing its debt burden, and strengthening bilateral economic cooperation.
The meeting also reviewed progress in implementing Chinese grant-funded projects in Sudan, including the West Omdurman Abattoir Project and the 200-million-yuan grant provided by the Chinese President to support projects in the energy, water, and agriculture sectors. The two sides also discussed removing obstacles to banking cooperation and stressed the importance of the China National Petroleum Corporation (CNPC) resuming its operations in Sudan.
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