April 27, 2019 / 10:35 AM / in 22 days

Sudan signs $200 million loan with Kuwait-based fund

KHARTOUM (Reuters) - Sudan has signed a deal for a $200 million loan from the Kuwait-based Arab Fund for Economic and Social Development, state news agency SUNA reported on Saturday.

The loan would be used to support development projects in Sudan, SUNA said without giving further details.

Sudan’s economic crisis helped trigger mass protests that led to the ouster of former President Omar al-Bashir earlier this month. The country of 40 million has been suffering from rapid inflation and shortages of cash, fuel and other basic products.

A transitional military council took over from Bashir. Demonstrations have continued as protesters call for a rapid handover of power to civilians.

Reporting by Khalid Abdelaziz; Writing by Aidan Lewis; Editing by Andrew Heavens

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