European Union (EU) has announced a support of ten million euros for its ‘Supporting the Economic Transition in Sudan’ project.
According to a statement from the EU, the project’s implementing partners, Expertise France and Overseas Development Institute (ODI), have presented their main findings on the needs of Sudanese.
The number of people living in poverty in Sudan rose from 50 percent in 1994 to 77 percent in 2016, according to a World Bank report.
‘The European Union (EU) has allocated around EUR 400 million in support of Sudan’s transition process, as it is one of the most important recent developments, providing an opportunity for sustainable peace and transformation in the Horn of Africa’, the statement read.
It noted that the fund will help ensure the provision of critical support to the public finance management (PFM), address the most pressing needs of Sudanese, and promote peace, stability, democratic and economic governance in the country.
The EU also noted that the project will contribute to enhance transparency and accountability of public administrations, and will improve and strengthen public service delivery.
‘This will be achieved through the support on building human capital in PFM in the Ministry of Finance and Economic Planning and the Bureau of Statistics, the National Audit Chamber, the Sudanese Tax Chamber’, the statement read.
‘In addition, the programme also aims to stabilise the financial sector through asset quality reviews and a reform strategy with the Central Bank of Sudan’.
It added that the programme places a significant emphasis on transparency and information sharing as a fundamental building-block of aid coordination.
‘Both Sudanese government officials and their international partners voiced their strong support for the role of the Aid Coordination Unit at a technical level’, the statement read.
‘This endeavour will ensure that technical assistance in the PFM and financial sector is well managed and delivers results in line with the government’s priorities to enhance economic growth and reduce poverty in Sudan.
Source: European Union
Photo source: Raidantravelsudan
