Sudan's Finance Minister, Heba Mohamed Ali Ahmed, revealed that the cost for country's landmark peace deal with rebels will be a whooping $7.5 billion.
The deal that was established on October 3 seeks to end decades of war in Sudan. However, the projected cost is quite high for a nation stricken by poverty.
As per the deal, the Sudan government committed to fund major development projects in areas that the long-standing war ruined.
Mr. Ahmed said, "The implementation of the peace plan requires at least $7.5 billion over 10 years," following the announcement he made during a discussion with governors and local officials.
The current economic crisis in Sudan can be attributed to long years of civil war under Bashir's rule, U.S. sanctions, and 2011 secession of the south, which is rich in oil.
The government declared a state of emergency last month to mitigate the economic situation.
The Finance Minister said, according to the deal, the government plans to pay $300 million immediately for reconstruction in Darfur, and the next payments will be spread across the next decade. The pledged payments make a total of $1.3 billion.
Some of the issues covered by the peace agreement are reparations and compensation to wealth and power sharing, land ownership, and the return of internally displaced people as well as refugees.
Mr. Ahmed added, "The finance ministry must create an environment favourable to investment in order to encourage the domestic and international private sector to invest in less-developed regions."
The minister explained that the basic problems that have caused conflict and war should be addressed first to ascertain the success of a peace plan.
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