Sudan has settled its debts with the World Bank after nearly three decades, paving the way for the country to access nearly $2 billion (Sh218 billion) in grants from the International Development Association, the bank said.

World Bank President David Malpass said yesterday the move marked a breakthrough for Sudan, putting it on the path to substantial debt relief and economic revival.

The payment was made possible through a $1.15 billion bridge loan from the US government.

Sudan’s finance minister Gibril Ibrahim said clearance of the arrears would enable the country to move forward with development projects.

Business
State to roll out 10,000 water projects to ease shortage
By Brian Ngugi 2 hours ago
Business
Retailers and city landlords in the crosshairs of data watchdog
Business
Unions, FKE reject radical pro-workers Bill
Business
DP Gachagua fails to unlock stalemate over counties funds