The UAE and Saudi Arabia have announced a joint initiative to support the brotherly people of Sudan. The initiative will see the delivery of $3 billion in assistance to Sudan.
The assistance bundle entails $500 million deposit into Sudan’s central bank to strengthen the country’s liquidity and monetary reserves throwing a lifeline to the country’s new military leaders after protests led to the ousting of president Omar al-Bashir.
The remaining amount will be dedicated to supporting the people of Sudan, across food, medicines, and fuel derivatives.
The aid from UAE and Saudi Arabia is the first major publicly announced assistance to Sudan from the Gulf States in several years.
“This is to strengthen its financial position, ease the pressure on the Sudanese pound and increase stability in the exchange rate,” the Saudi Press Agency said.