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Published 1 month ago

UN experts say South Sudan is close to securing a $13 billion oil-backed loan from a UAE company

  • South Sudan is close to securing a $13 billion loan from a company in the United Arab Emirates, despite difficulties managing debts backed by oil reserves.
  • The deal with Hamad Bin Khalifa Department of Projects would be South Sudan's largest oil-backed loan, according to UN experts.
  • Servicing the loan may tie up a significant portion of South Sudan's revenue for many years, with 70% allocated to infrastructure projects.
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