August 13, 2022

Sudan has signed a memorandum of understanding with the United Arab Emirates for an agricultural and port project: finance minister

Sudan recently signed a memorandum of understanding with the United Arab Emirates for a major agricultural project linked by a road to a new port to be built on the Red Sea, the Sudanese finance minister said on Wednesday.

The two sides are now working out the details of the project, Finance Minister Jibril Ibrahim told Reuters in an interview, without giving further details.

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Sudan’s economic crisis has deepened since a military coup upended a political transition following the overthrow of former Sudanese President Omar al-Bashir in 2019.

Following the coup, billions of dollars in international funding for Sudan were frozen and senior officials sought funds from wealthy Gulf states.

Sudan is also experiencing an agricultural crisis linked to its financial situation.

The country has significant untapped agricultural potential, although some previous foreign investment has encountered local resistance and logistical problems.

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