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Sudan Raises More Than $1 Billion to Develop East of Country

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Dec. 1 (Bloomberg) -- Sudan has received pledges for more than $1 billion to help develop the impoverished east of the country, said Mustafa Mohammed Osman, an adviser to the president.

The money is in addition to the $1.57 billion already promised by Sudan’s government, Osman told reporters at a conference in Kuwait City.

Kuwait has pledged $500 million, its Foreign Minister Sheikh Mohammed Al-Sabah said today, while his counterpart in Iran, Manouchehr Mottaki, promised $200 million. Kuwait will provide $450 million for infrastructure projects and the rest as grants through the Kuwait Fund for Arab Economic Development, Al-Sabah told the conference.

Sudan aims to attract foreign investment worth $2 billion at the two-day conference, presidential adviser Mostafa Osman Ismail said on Nov. 28. In March, the Organization of the Islamic Conference raised $850 million of a targeted $2 billion for development in western Sudan.

Authorities pledged to eradicate poverty and develop eastern Sudan in a 2006 peace agreement it signed with rebels there. The region hosts almost 80,000 registered refugees from Sudan’s eastern neighbors, mainly Eritrea, according to the United Nations High Commissioner for Refugees.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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