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Emirati company signs loan deal with South Sudan government
Hamad Bin Jalifa Department of Projects (HBK-DOP) has closed a 12 billion Euro loan with the Government of South Sudan, in return for a discount of nine Euros per barrel of oil over the next 20 years.
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Economia Empréstimo
According to the agency, South Sudan should have already received the first tranche of the loan, valued at 4.6 billion euros.
As Bloomberg reported, the terms of the agreement were defined between December 2023 and February of this year, and were later approved by the Minister of Economy of South Sudan, Bak Barnaba Chol.
Around 70% of the loan amount, which represents five times the external debt of South Sudan, will be dedicated to infrastructure development.
HBK-DOP, a company from the United Arab Emirates, was founded by Hamad Bin Jalifa Al Nayan, a relative of the royal family of the Emirates.
The Government of South Sudan has not yet commented on this agreement.
The Emirates had already made a similar offer to Egypt, last February, in the amount of approximately 32.7 billion euros.
Read Also: IMF agrees to grant a loan of 4,000 million dollars to Ecuador (Portuguese version)
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