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Sudan says joining AIIB a turning point to break economic isolation

Xinhua | Updated: 2017-05-04 10:56

KHARTOUM - Sudanese economic analysts said Wednesday that Sudan's joining the Asian Infrastructure Investment Bank (AIIB) is a turning point in breaking its economic isolation.

Mohamed Al-Nayer, a Sudanese economic analyst, told Xinhua that the move came at a time when Sudan is suffering from a US economic siege that has continued for about 20 years.

"Sudan's joining the AIIB will be a turning point, particularly when the bank is concerned with infrastructure," he said.

"Sudan needs infrastructures which motivate the investment in various fields. Sudan is also in great need of making use of the fund the bank provides with equity and balance and not according to political standards like what international funding institutions such as the World Bank and the International Monetary Fund make," he added.

Adil Abdul-Khaliq, another Sudanese economic analyst, stressed the importance of working out an ambitious plan and using the privileges provided by the AIIB.

"Sudan previously prepared strategic projects to be financed by the Arab funds, but that did not happen. Now we can find the funds from the AIIB," Abdul-Khaliq told Xinhua.

"Due to the American economic siege, Sudan will depend on the strategy of cooperation with eastern Asia, namely China. Sudan's joining the AIIB now comes to break the international isolation," he noted.

Sudan has been suffering from US economic sanctions for about 20 years, before US former president Barack Obama decided to lift part of the sanctions in January.

The news of Sudan's joining the AIIB, a Chinese-led initiative aiming at boosting regional development, was declared on March 23.

Experts say the bank, with a capital base of $100 billion, was established to finance railways, roads, electricity and other infrastructure projects in non-developed areas in Asia.

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