The Director of the World Bank for Sudan, Ousmane Dione, revealed that the bank will soon start the process of allocating two billion dollars in grants to Sudan, marking the country's return to the global financial system after decades of isolation.
Dione explained that "the priority areas for funding will be determined after the meetings early next month, and the peace agreement signed last year will be taken into account when determining the allocations."
The government of Sudan had announced that the sectors of agriculture, infrastructure, health and education were areas of priority investment.
Dione stressed on the importance of knowing "how these resources will be spent, so that it contributes to reducing the gap between the center and the parties, is very important," noting that "the government of Sudan is expected to lead these projects, but it may include partnerships with the private sector when this is beneficial."
The International Development Association, an affiliate of the World Bank, announced that it would provide two billion dollars to Sudan over the next two years in the form of grants. The new funding was made available after Sudan settled back arrears owed to the World Bank thanks to a temporary loan of $1.15 billion provided by the United States.
Source (London-based Al-Arab Newspaper, Edited)
