Kiir to repay loans in form of crude oil

JUBA – South Sudan’s President Salva Kiir Mayardit will repay loans owed to the African Export and Import Bank (known as Afreximbank) in form of crude oil, according to a statement issued by the presidency.

This comes following a meeting at the state house J1 between President Salva Kiir Mayardit and a high-level delegation of the Afreximbank on Friday in which deepening of ties between the parties involved was discussed, according to the presidency statement.

“Friday 11th June 2021- His Excellency President Salva Kiir Mayardit received and met a delegation from African Export Import Bank (Afreximbank) led by its President Hon. Prof Benedict Oramah,” the presidency statement said.

“The meeting discussed how to deepen the existing relations between South Sudan and African Export Import Bank.

“The discussion of H.E. President Salva Kiir Mayardit and Afreximbank delegation further focused on the repayment of loans received by South Sudan from Afreximbank to-date, ways to consistently deliver crude cargoes designated for loan repayment, and South Sudan current and future financial needs.

“H.E. President Salva Kiir Mayardit expressed his gratitude to President Oramah and his accompanying delegation for visiting South Sudan and assured the delegation of the commitment of the government of South Sudan to continued long-term bilateral cooperation with Afreximbank.”