South Sudan Receives $ 9 Million To Boost Private Sector

This article was last updated on April 16, 2022

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“World Bank has already been collaborating with us. Its good that today we have signed the first grant agreement, we believe that in South Sudan, the private sector has an important part to play,” Manibe said.

“We are aware that as of now the private sector is still weak, that is true; but despite that weakness it has a role and this is one of the projects that will strengthen the private sector to be in a position to play the role we wish them to play,” Manibe explained.

The World Bank (WB) Country Manager, Laura Kullenberg said this operation is part of the 75 Million US Dollar transitional trust fund that the WB approved on independence as the bide financing when the country becomes an official member of the World Bank Group.

“This particular operation is very timely as the country is undertaking serious measures to diversify the economy away from oil into agriculture and private sector development,” Kullenberg added.

“The development of the private sector is crucial to providing economic opportunities and improves the livelihood of unemployed youths and returnees, as well as women who face higher unemployment rates than men,” she said.

The Minster of Commerce, Industry and Investment Hon. Garang Diing Akuang expressed his gratitude to the World Bank for supporting the Ministry’s development programs.