KHARTOUM, May 17 (Xinhua) -- As the Paris Conference for Supporting Sudan's Transitional Period started on Monday, Sudan hopes the conference in France would help settle their country's foreign debts and support its development projects.
With wide regional and international participation, the two-day conference in Paris are divided into three sessions that will focus on the developments in Sudan, particularly the economic reform measures and Sudan's huge potentials, resources and investment opportunities.
The conference is set to review projects to be presented by Sudanese Minister of Finance and Economic Planning Jibril Ibrahim in four round-table meetings in presence of the ministers concerned.
Sudan is seeking exemption of its foreign debts exceeding 56 billion U.S. dollars largely owed to international financial institutions.
"The Paris conference constitutes the biggest economic gathering to support Sudan ... a chance to reflect the international willingness for supporting the democratic transformation in Sudan and improving the economic situation in the country," Abdalla Noureddine, a Sudanese economic analyst, told Xinhua.
Sudan is already qualified to benefit from the Heavily Indebted Poor Countries (HIPC) Initiative launched in 2020, he said, describing Sudan's foreign debts as "the biggest barrier before its economic reform."
"The HIPC initiative sets conditions for the poor countries to have their debts relieved, including acceptance of the International Monetary Fund into their reform programs and paying part of their debts to international institutions," he noted.
With regard to its development, Sudan hopes the Paris conference would provide the necessary financing for it to implement an economic development project worth 15 billion dollars that covers vital domains such as energy, transport and infrastructures.
"Sudan has preceded the conference by passing important laws to attract international investors, namely the investment law and adopting the dual banking system and the partnership law between the public and private sectors," Abdul-Jalil Ibrahim, a Sudanese economic analyst, told Xinhua.
The Sudanese government team participating in the conference has prepared about 18 projects, including the national energy project with the aim to increase the electricity production by 1,000 megawatts at a total cost of about 1.1 billion dollars.
Other projects include the rehabilitation of the national airline Sudan Airways by purchasing a new fleet of planes and restoring the catering and ground services at a cost of 2 billion dollars, and rehabilitation of the national Sudan Shipping Line at a cost of 2 billion dollars and rehabilitation of the Sudanese railways at a cost of 2.6 billion dollars. Enditem