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Visit of Minister of Finance and National Economy, Government of Sudan, Mr. Ali Mahmoud Mohamed to New Delhi (July 24-26, 2013)

July 25, 2013

  1. Honourable Minister of Finance and National Economy, Government of Sudan, H.E. Ali Mahmoud Mohamed is on a visit to New Delhi during July 24-26, 2013 regarding rescheduling of the existing Government of India Lines of Credit to Sudan. Honourable Minister of State for External Affairs, Smt. Preneet Kaur met the Minister on the 24th of July, 2013 and hosted a dinner in his honour. The Honourable Minister of Finance and National Economy of Sudan is expected to call on the Honourable Minister of Finance, Shri P. Chidambaram during his visit.
  2. Technical discussions between India and Sudan were held regarding rescheduling of the existing Lines of Credit to Sudan in New Delhi on the 22nd and 23rd of July, 2013. Delegation level talks were held between Indian delegation led by Additional Secretary, Development Partnership Administration in the Ministry of External Affairs, Government of India, Smt. Radhika Lokesh and Sudanese delegation led by the Director General, International Cooperation, Ministry of Finance and National Economy, Government of Sudan, Mr. Omer Mohamed Ahmed Alhaj. There are six existing Government of India Lines of Credit totaling US$ 566.9 million to Sudan and the EXIM Bank is the implementation arm for the Line of Credit.
  3. The mutually agreed terms for the Lines of Credit were arrived at by taking into account the sensitivities of both the countries. The rescheduling has been made by way of relaxation of the interest rate, repayment period and moratorium of the Lines of Credit. The agreed minutes and the rescheduling agreement were signed in the presence of the Honourable Minister of State for External Affairs and Honourable Minister of Finance and National Economy of Sudan. This is a first request for re-scheduling the Lines of Credit of such magnitude being considered by Government of India and it was favourably considered given the difficult economic situation of Sudan post the secession of South Sudan.
  4. The issue of payment dues by Government of Sudan to ONGC Videsh Limited and other commercial interests was raised by the Indian side and Sudanese delegation assured that this issue will be resolved at the earliest. Sudanese side agreed to make every effort to ensure that Indian commercial interests are not adversely affected.
  5. India and Sudan share robust and historic ties and the two countries have enjoyed strong and friendly political relations since the latter gained independence in 1956. India remains committed to further strengthen the cordial, diverse and mutually beneficial relations that exist between the two countries and people.
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