{"id":57242,"date":"2024-04-27T13:46:58","date_gmt":"2024-04-27T13:46:58","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report"},"modified":"2024-04-27T14:23:15","modified_gmt":"2024-04-27T14:23:15","slug":"south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report","title":{"rendered":"South Sudan commits future oil revenue in 20-year loan deal with UAE firm \u2013 UN report"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>A Dubai-based company has finalized a deal to lend South Sudan $12.9 billion in exchange for oil over a 20-year period, according to a leaked UN report cited by Bloomberg.<\/p>\n

The agreement, one of the largest of its kind, has raised concerns within the United Nations.<\/p>\n

The report by a UN Security Council panel indicates that Dubai\u2019s Hamad Bin Khalifa Department of Projects (HBK DOP) reached the agreement with South Sudan\u2019s former finance minister, Bak Barnaba Chol, between December 2023 and February 2024.<\/p>\n

The deal is controversial as it\u2019s nearly twice South Sudan\u2019s GDP. The report notes that 70% of the funds would be used for infrastructure, despite the country facing famine and conflict.<\/p>\n

It also warns the loan, roughly five times the country\u2019s existing external debt, could consume a large portion of oil revenues for many years.<\/p>\n

Under the terms, South Sudan would receive $10 less than the international benchmark price per oil barrel.<\/p>\n

HBK DOP was founded by Sheikh Hamad Bin Khalifa Al Nahyan, a distant relative of Abu Dhabi\u2019s royal family. It\u2019s unclear if South Sudan has yet received an initial $5 billion installment from the deal.<\/p>\n

The UAE has pledged over $97.3 billion in African investments from 2022-2023, seeking to become the continent\u2019s largest investor.<\/p>\n

In February 2024, Abu Dhabi\u2019s ADQ sovereign wealth fund pledged $35 billion to develop Egypt\u2019s Ras El Hikma peninsula.<\/p>\n

Oil-rich nations often turn to oil-backed loans when they struggle to access conventional financing. Nigeria recently secured a $3.3 billion oil-backed loan from Afreximbank in August 2023.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. A Dubai-based company has finalized a deal to lend South Sudan $12.9 billion in exchange for oil over a 20-year period, according to a leaked UN report cited by Bloomberg. The agreement, one of the largest of its kind, has raised concerns within the United Nations. The report by a UN Security […]<\/p>\n","protected":false},"author":84,"featured_media":57241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,293],"tags":[234,265,233],"class_list":["post-57242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nSouth Sudan commits future oil revenue in 20-year loan deal with UAE firm \u2013 UN report - South Sudan<\/title>\n<meta name=\"description\" content=\"A Dubai-based company has finalized a deal to lend South Sudan $12.9 billion in exchange for oil over a 20-year period, ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Sudan commits future oil revenue in 20-year loan deal with UAE firm \u2013 UN report\" \/>\n<meta property=\"og:description\" content=\"A Dubai-based company has finalized a deal to lend South Sudan $12.9 billion in exchange for oil over a 20-year period, ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-27T13:46:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-27T14:23:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/04\/sm_1714214952.519052.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"508\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Sudan commits future oil revenue in 20-year loan deal with UAE firm \u2013 UN report\",\"datePublished\":\"2024-04-27T13:46:58+00:00\",\"dateModified\":\"2024-04-27T14:23:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report\"},\"wordCount\":281,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/04\/sm_1714214952.519052.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-commits-future-oil-revenue-in-20-year-loan-deal-with-uae-firm-un-report\",\"name\":\"South Sudan commits future oil revenue in 20-year loan deal with UAE firm \u2013 UN report - 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