Khartoum — Qatar will invest $500 million in Sudan's agricultural and food sectors over the next three years.
Hassad Food, a subsidiary of the gas-rich emirate's investment authority, signed the deal in the Sudanese capital on Thursday, according to the state-run news agency QNA.
"We've signed a Memorandum of Understanding with the Sudanese side in line with Hassad's new vision and strategy to become a successful strategic investor in the global food and agriculture value chains," Hassad CEO Mohamed Al Sadah said.
"Over the next three years, we plan to invest around $500 million in the Sudanese food sector, by entering into partnerships with a number of local Sudanese companies," he added.
Sudanese Minister of Investments Mubarak El Fadil welcomed the deal and said it will help provide food security in the African country
In March, Doha and Khartoum signed an initial $4 billion agreement to jointly manage and develop a Red Sea port.
In 2011, Qatar brokered a peace agreement, the Doha Document for Peace in Darfur, between Khartoum and a Darfuri rebel group and has since pledged $2 billion for reconstruction and development in the region.