UN experts say South Sudan is close to securing a $13 billion oil-backed loan from a UAE company
Fox News
South Sudan is close to securing a loan of $13 billion from United Arab Emirates company Hamad Bin Khalifa Department of Projects, according to United Nations experts.
The experts, who monitor an arms embargo against South Sudan, said in the oil section of the report obtained by The Associated Press this week that "servicing this loan would likely tie up most of South Sudan’s revenue (for) many years, depending on oil prices."
Hamad Bin Khalifa Department of Projects, registered in Dubai, has no listed phone number and its website isn’t working. An email address associated with the company bounced back. The UAE Mission to the United Nations declined to comment, saying Hamad is a private company.
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