South Sudan’s $12 billion loan from UAE sparks public debate ...Sudan

April 30, 2024 (JUBA) – South Sudan’s plan to borrow over $12 billion from a Dubai firm has ignited public controversy. Activists question the nation’s ability to repay the loan, given its ongoing struggles to meet basic obligations after years of civil war, including paying civil servant salaries. The agreement, one of the largest oil-backed deals ever, is the second struck under President Salva Kiir, using oil as collateral for infrastructure projects with Chinese companies. At a ceremony introducing the new finance minister, Daniel Awow, former minister Barnaba Bak Chol claimed his ministry successfully negotiated deals with various financial institutions and international companies to l

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South Sudan’s $12 billion loan from UAE sparks public debate ...Sudan

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