Saudi Arabia to double investments in Sudan to $2bn

Saudi Arabia to double investments in Sudan to $2bn

Saudi Arabia aims to double investment in Sudan from SR4 billion ($1 billion) to SR8 billion, Saudi-Sudanese Business Council Chairman Hussein Bahri told Asharq.

The council aims to fund new projects with investors, local banks, the Saudi Agricultural Development Fund and other financing agencies from the Kingdom, Bahri said.

He pointed out during the interview that the Kingdom is interested in the agricultural sector for investment, in order to keep pace with Saudi Arabia’s food security plan.

Bahri revealed the formation of a Crisis Committee to deal with the challenges facing Saudi investments in Sudan, local papers reported on Sunday.

Saudi Arabia has welcomed a new political deal signed between Sudan’s military and Prime Minister Abdalla Hamdok.

By Arab News