South Sudan-Ethiopia cross-border highway Photo: Eyeradio.orgAddis Abeba – Ruben Madol Arol, South Sudan’s Minister of Justice and Constitutional Affairs, presented a financing agreement signed between Ethiopia and South Sudan to the latter’s national parliament on Wednesday. It was initially signed by South Sudan’s President Salva Kiir Mayardit in 2023. Minister Ruben told South Sudan’s Transitional National Legislative Assembly that the the agreement, signed on May 18, 2023, Ethiopia and South Sudan, “designates South Sudan as the borrower and Ethiopia as the financier,” local media quoted him as saying. “In terms of crude oil payment, the borrower will repay the equivalent amount on the due date or in cash. The loan repayment will be determined based on the price difference between the Arab Gulf and the delivery date of crude oil.

Source: Ethiopian News May 30, 2024 14:08 UTC