South Sudan loses court case, to pay Qatar Bank $1bn ...Sudan

May 12, 2024 (DOHA) –  The Republic of South Sudan has been ordered to pay more than one billion dollars in an International Centre for Settlement of Investment Disputes (ICSID) award ruled in favour of Qatar National Bank (QNB). The case stems from a $700 million loan the Qatar bank gave South Sudan in 2012. In 2015, however, the world’s youngest nation entered into another agreement with QNB on how it intended to repay the loan it had borrowed. The loan was restructured in 2016 and supplemented in 2018 after South Sudan requested for more money to be repaid within 15 years starting in 2019. Since then, South Sudan had defaulted on repayment of the loan, prompting the Qatar-based bank to l

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