- Gibril Ibrahim, the Sudanese finance minister has disclosed that his government had signed an agreement with the UAE to build a port along the country’s Red Sea coast.
Gibril Ibrahim, the Sudanese finance minister has disclosed that his government had signed an agreement with the UAE to build a port along the country’s Red Sea coast. He said that UAE has in principle” agreed to build the port on the Red Sea and manage it for a certain period. The details on revenue sharing etc are being worked out.
The Minister revealed this while speaking to the media at the International Monetary Fund meetings in Washington DC recently. Though the details about the total investment value of the project are not known yet, the reported estimated cost of the project is $4 billion.
The construction of the port is expected to give a much-needed boost to the economy, particularly after last year’s military coup that toppled civilian members of the power-sharing government that led to the suspension of aid from Western donors. Ibrahim is a former rebel leader brought into government after a peace deal. His ministerial position was retained after the coup.
According to the IMF, Sudanese real gross domestic product will shrink by 0.3 percent in 2022, In 2023 it is expected to expand by 2.6 percent.
Also read;
https://trendsnafrica.com/sudan-to-go-for-image-makeover-to-emerge-as-a-tourist-destination/
