Baku:On the sidelines of the annual meetings of the World Bank Group and the International Monetary Fund (IMF), Sudan's Minister of Finance and Economic Planning, Dr. Gebreil Ibrahim, along with First Deputy Governor of the Central Bank of Sudan, Motasem Abdallah Ahmed Al-Faki, held a bilateral meeting with Dr. Abdalhamid Al-Khalifa, Director-General of the OPEC Fund for International Development (OFID).
According to Sudan News Agency, the discussion focused on mechanisms for settling Sudan's outstanding financial arrears and the necessary steps to resume access to development financing from the Fund. Both parties agreed to advance the process of addressing the arrears through bridge financing and to initiate negotiations between their respective technical teams to reach a suitable debt settlement.
This progress is expected to pave the way for renewed financing cooperation, expanding opportunities to leverage the Fund's resources in support of priority development projects. These projects aim to enhance infrastructure, improve essential services, and strengthen productive sectors, particularly in agriculture and energy.
The resumption of financing could play a crucial role in mobilising resources for Sudan's development priorities, broadening partnerships with international financing institutions, and potentially stimulating investment, increasing productivity, and creating jobs. Subject to agreed arrangements and the Fund's established procedures, this could also enhance the national economy’s capacity for sustainable growth.
Both sides emphasized the importance of continued coordination and technical cooperation to complete the necessary financial and procedural arrangements. This collaboration is intended to build confidence between Sudan and the Fund, translating understandings into practical steps that foster development partnerships and support Sudan's efforts to secure the resources needed for its economic and development goals.