Abu Dhabi Fund provides $500-million deposit to Sudan

Abu Dhabi Fund for Development will provide Sudan’s Central Bank with $500 million as deposit, according to an agreement concluded between the two parties on Thursday.
 
The agreement aims to improve Sudan’s economic situation during the current critical period and comes in coincidence with the U.S decision to lift some sanction imposed against Khartoum for years.
 
Sudan's economic problems have been building since the south seceded in 2011, taking with it three-quarters of the country's oil output, its main source of foreign currency and government income.
 
US President Barack Obama has announced, on Friday, lifted some restrictions on Sudan economic sanctions, which referred to the developments "positive" during the last six months.
 
He noted Obama, in a letter to Congress, to Khartoum's cooperation with Washington in "dealing with regional conflicts and the threat of terrorism," as he put it.
 
Sudan suffers from a deepening economic problems since the secession of the south in 2011.