UN experts say South Sudan is close to securing a $13 billion oil-backed loan from a UAE company

📆 18/5/2024 6:46 AM
📰 AP

⏱ Reading Time:
30 sec. here
16 min. at publisher
📊 Quality Score:
News: 64%
Publisher: 51%

South Sudan News

United Arab Emirates,Sudan,South Sudan Government

U.N. experts say South Sudan is close to securing a $13 billion loan from a company in the United Arab Emirates, despite the oil-rich country’s difficulties in managing debts backed by its oil reserves. The panel of experts says in a report to the U.N.

UNITED NATIONS — U.N. experts say South Sudan is close to securing a $13 billion loan from a company in the United Arab Emirates, despite the oil-rich country’s difficulties in managing debts backed by its oil reserves.

Hamad Bin Khalifa Department of Projects, registered in Dubai, has no listed phone number and its website isn’t working. An email address associated with the company bounced back. The UAE Mission to the United Nations declined to comment, saying Hamad is a private company. South Sudanese Information Minister Michael Makuei Lueth told reporters in February that outside factors, including the civil war still raging in Sudan, have hurt South Sudan’s oil exports. He also said oil wells, which were water-logged by heavy floods during the past rainy season, weren’t yet fully operational.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

A Manhattan Mansion by Architect Robert D. Kohn Hits the Market for $13 MillionThe 10,000-square-foot, five-bedroom home listed for $13 million includes a 2,000-square-foot rooftop deck overlooking the Hudson River.
Source: RobbReport - 🏆 309. / 63 Read more »