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Wednesday 30 Sep 2015 - 12:49 Makkah mean time-17-12-1436
Khartoum (IINA) – The Sudanese government and the Saudi Fund for Development (SFD) signed two agreements on Tuesday to finance imports of petroleum products worth $100 million and fertilizers for $71 million, Sudan Tribune reported.
The agreement was signed from the Sudanese side by Minister of Finance Badr al-Din Mahmoud, while SDF was represented by its Vice Chairman and Managing Director Youssef Ibrahim al-Bassam in the presence of the Saudi ambassador to Sudan.
Sudanese Minister of Oil and Gas Mohammed Zayed addressed the signing ceremony by noting that the agreement would contribute to the provision of petroleum products for the agriculture and industrial sectors.
Zayed praised SFD’s role in financing many development projects in Sudan and treasured the relations between Sudan and Saudi Arabia in the economic sphere, pledging commitment to implementing the terms of the agreement.
For his part, the minister of finance pointed out that the agreement was inked in accordance with Islamic financing rules for the benefit of the two countries.
Sudanese Minister of Agriculture and Forestry Ibrahim Adam Al-Dekhairi hailed the support provided by SFD to obtain fertilizers which he described as the drive of growth in the five-year economic program.
SFD Vice Chairman said that the SFD is a developmental partner to Sudan and has funded many projects over the past 40 years in different areas including Merowe and Atbara dams.
He expressed SFD’s readiness to provide all Sudan’s needs in terms of Saudi exports to develop bilateral trade.
AB/IINA
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