(Recasts with World Bank statement)

WASHINGTON, March 26 (Reuters) – Sudan has settled its debts with the World Bank after nearly three decades, moving the heavily-indebted African country closer to a much-needed international debt relief package, the World Bank and U.S. Treasury Department said on Friday.

World Bank President David Malpass said the move meant Sudan could now access nearly $2 billion in grants from the Banks International Development Association (IDA).

Payment of Sudans arrears was made possible through a $1.15 billion bridge loan from the U.S. government.

Sudans finance minister Gibril Ibrahim said clearance of the arrears would enable the country to secure financing from the World Bank Group and o…

Read the full article at: https://www.reuters.com/article/sudan-debt/sudan-moves-closer-to-debt-relief-with-u-s-loan-to-clear-world-bank-arrears-idUSL1N2LO02S