Bahrain to settle South Sudan’s debts in exchange for the right to operate in the country’s energy sector.
According to a statement made by the president, a group of businessmen from the Gulf’s Kingdom of Bahrain has offered to settle South Sudan’s accumulated debts in exchange for the right to operate in the country’s energy sector.
According to the statement, President Salva Kiir met with a high-level delegation of Bahrain business tycoons on Thursday and discussed economic collaboration, which they stated will benefit South Sudan’s economic recovery.
“President Salva Kiir Mayardit received and met with a delegation of Business Associates from the Kingdom of Bahrain led by Mr. Fawzi Al Aradi, the Managing Director for Capital Impact W.L.L and Mr. Dariusz Cichocki, Chief Executive Officer for Getka today (Thursday, 16th June 2022),” the presidency said in a statement.
Following the meeting with the visiting delegation, South Sudan’s finance minister, Agak Achuil, stated that they will sign a Memorandum of Understanding between the Government of South Sudan (Ministry of Finance and Planning) and Capital Impact W.L.L with its Joint Venture Partner Getka Energy Services LLC to further strengthen business relations between the two countries.
According to the presidential statement, “the delegation indicated an interest in reducing the country’s existing debt by consolidating and repaying loans with energy resources, while boosting energy stability and expanding community access to clean drinking water, with an extra emphasis on preparing efforts to promote public health, sanitation, and other areas of mutual value to the community and the Republic of South Sudan.”