Written by: Badr Ahmed

On Sunday, the governments of Sudan and China signed a protocol in Port Sudan to waive part of Sudan’s outstanding debt, a move that reflects continued economic cooperation between the two countries and Beijing’s support for Khartoum’s efforts to alleviate its financial burdens and strengthen its economic recovery.

Under the agreement, the Chinese government agreed to forgive four interest-free soft loans owed by Sudan, with a total value of 344.52 million Chinese yuan, equivalent to about $50 million.

Sudan and China sign an agreement to forgive part of Khartoum's debt, amounting to nearly $50 million.

The protocol was signed on behalf of Sudan by the Minister of Finance and Economic Planning, Dr. Jibril Ibrahim, and on behalf of China by the Chargé d'Affaires of the Chinese Embassy in Sudan, Xu Jian. Both sides agreed that the protocol would enter into force upon signing, with the Central Bank of Sudan and the China Development Bank undertaking the necessary technical and banking procedures to settle the debt relief accounts.

The Sudanese Minister of Finance affirmed that the economic relations between Khartoum and Beijing are characterized by strength and specialness, praising the role that China has played in supporting Sudan during periods of economic challenges, particularly through its investments in the oil sector, in addition to its support for Sudan in regional and international forums.

Jibril Ibrahim pointed out that Sudan represents a strategic gateway for Chinese investments in the African continent, praising Beijing’s decision to exempt exports to fifty African countries from customs duties, describing the move as enhancing trade and development opportunities in the continent.

The minister also revealed China’s readiness to expand capacity-building programs and train Sudanese personnel, including the implementation of specialized training programs in a number of fields, in addition to supporting technical and administrative cooperation.

For his part, the Chinese Chargé d'Affaires affirmed his country's desire to continue supporting the Sudanese economy and contributing to easing the burden of debt, which would contribute to strengthening economic cooperation and joint development relations between the two countries.

The meeting also reviewed the progress of several Chinese grants and projects in Sudan, including the West Omdurman slaughterhouse project, and the grant announced by the Chinese President worth 200 million yuan to support energy, water and agriculture projects, in addition to discussing ways to remove obstacles to banking cooperation, and emphasizing the importance of resuming the activities of the Chinese company CNPC in Sudan.