Sudan Secures Over $300 Million in World Bank Grants
Sudan is set to receive more than $300 million in grants from the World Bank, with disbursement expected before June 2025. This announcement was made by Sudanese Finance and Economic Planning Minister Gibril Ibrahim during a press conference in Port Sudan. The minister highlighted that the funds will not be deposited directly into the Bank of Sudan's account but will be channeled through UNICEF and the World Food Programme, which will collaborate closely with the Sudanese government based on its priorities.
Protests Over Slow Grant Procedures
During the recent annual meetings of the World Bank and the International Monetary Fund, Minister Ibrahim led a delegation that voiced concerns regarding the sluggish pace of grant disbursement processes. He specifically pointed to the World Bank's stance following the military's corrective measures on October 25, 2021, led by army commander Abdel Fattah Al-Burhan. Ibrahim's comments reflect ongoing frustrations with international financial institutions regarding Sudan's economic recovery efforts.
Economic Resilience Amidst Challenges
Despite the ongoing conflicts and economic difficulties, Minister Ibrahim asserted that Sudan's economy remains resilient and has not collapsed. He noted improvements in revenue collection, attributed to government measures aimed at expanding the tax base and enhancing digital transformation. Currently, approximately 30% of the central government’s revenue is allocated to states through the Federal Governance Bureau, indicating a structured approach to fiscal management.
