The World Bank has provided Sudan with $410 million in grants to mitigate the impact of economic reforms through the Samarat Family Support Programme.
The programme, which was launched on 24 February, 2021, aims to deliver cash transfers to 80 percent of Sudanese families.
In this respect, the country’s Minister of Finance and Economic Planning, Jibril Ibrahim, signed an agreement with the bank’s Country Director for Eritrea, Ethiopia, South Sudan and Sudan, Ousmane Dion.
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.
‘This is a breakthrough at a time when Sudan needs the world’s help to support its development progress’, World Bank President, David Malpass, said in a statement.
‘The steps taken so far, including arrears clearance and exchange rate unification, will put Sudan on the path to substantial debt relief, economic revival, and inclusive development’.
Development Diaries understands that Sudan secured the grants after clearing its arrears to the International Development Association (IDA).
IDA is the World Bank’s fund for the poorest countries.
By clearing its arrears, Sudan has also completed a key step for receiving comprehensive external debt relief under the Heavily Indebted Poor Country (HIPC) Initiative.
‘With the clearance of these arrears we look forward to securing financing from the World Bank Group and other multilateral institutions to strengthen our economy and reach all corners of Sudan with transformative development projects’, Ibrahim said.
‘We are thankful to the U.S. government for facilitating this clearance process, which also supports our drive towards more comprehensive debt relief’.
Ibrahim expressed his aspirations for the programme to spread its benefit to all families in all states, and to contribute to alleviating poverty and suffering.
The minister called on Sudanese families to register immediately in the civil registry so that they can receive their benefits.
Source: World Bank
Photo source: Raidantravelsudan
