Sudan begins clearing $60B World Bank arrears

KHARTOUM, Sudan

Sudan has begun clearing its $60 billion arrears and got access to the new grants from the World Bank after 30 years of blockade, the Sudanese Council of Ministers said in statement on Friday.

The statement further disclosed that Sudan would receive a $2 billion grant within the next two years.

According to the statement, the clearance would also enable Sudan to get $635 million in immediate support for its collapsing economy.

The arrear clearance immediately allows Sudan's access to concessional financing and other services from the World Bank, the statement added.