South Sudan: South Sudan Gets $250 Million From Qatar Bank as Oil Output Cut

Sep 16, 2014 | Mading Ngor, Bloomberg
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South Sudan is using a $250-million Qatar National Bank credit line to fund food and fuel purchases after civil war cut crude output, a key source of state revenue, the governor of the central bank said.

The loan came with an interest rate of “less than 6 percent” and no fixed term for repayment, Governor Kornelio Koriom Mayik said in a Sept. 9 interview in South Sudan’s capital, Juba. The country requested the funds after conflict erupted in December, he said, without specifying when. Yousef Darwish, general manager of communications at QNB in Qatar’s capital, Doha, didn’t answer calls seeking comment.