Sudan signs $700m airport financing deal with China

Sudan has signed a USD 700 million deal with China to finance the new Khartoum International Airport, official media announced Tuesday.
The deal, signed in Beijing, China, between the Sudanese Ministry of Finance and the Export-Import Bank of China, is to finance the new airport project through a 20-year soft loan with a five year grace period and 2.5 percent annual interest, according to Sudan News Agency (SUNA).
The project is one of the biggest ventures that would positively affect the Sudanese economy and revive local labor market mobility, Mohammad Abdulaziz, director of Sudan Airports Holding Company, said.
The new airport is to be ranked within the list of international hub airports, Abdulaziz noted, adding that it would provide various services to passengers and goods for Sudan and the entire African continent.
He also said emphasized importance of the new project due to its strategic location, spanning over 103 million square meters with a seven million-passenger capacity.