March 1, 2013 (WASHINGTON) – The World Bank Board of Directors, in partnership with the International Finance Cooperation (IFC) have endorsed a new Interim Strategy Note (ISN) for South Sudan.
The ISN, the World Bank said in statement, represents the Bank Group’s support to the South Sudan Development Plan (SSDP), over the financial years 2013-2014.
Over this period, the statement notes, the Bank’s International Development Association plans to invest approximately US$130 million in support of the Government of South Sudan foundational development of effective and accountable public institutions that respond to citizens’ needs.
The move, it added, seeks to impact on service delivery, by promoting effective economic management and governance; and expanding productive employment opportunities.
“South Sudan is a new republic that’s barely two years old, and emerging from decades of conflict. As development, partners we recognize that building the state will depend on development-oriented leaders having and implementing a long-term vision, while exercising patience and persistence,” said Bella Bird, the World Bank Country Director for South Sudan, Sudan and Somalia.
Our support articulated in the ISN is just laying the foundation for a journey that seeks to transform physical, human and institutional development, she added.
The interim strategy, the Bank says, focuses on the longer-term endeavor of building legitimate institutions that can mitigate the drivers of instability in “fragile” and conflict-affected countries, including South Sudan.
Almost a year since it became a member of the World Bank Group, South Sudan, which got its independence in July 20121, still faces enormous challenges with virtually no or poor infrastructure, bare subsistence level agriculture, dismal human development indicators, and weak formal institutions of government.
Laura Kullenberg, the World Bank Country Director for South Sudan describes the young nation as a “resource rich country with tremendous development potential.”
“As a new nation, South Sudan has the opportunity to benefit from decades of development experience and avoid the hard lessons learned by others. Through its financial assistance, analytical work and country dialogue the World Bank Group will work with other development partners to help the country leverage global knowledge and development experience as it sets out to build effective and accountable institutions, diversify its economy and provide economic opportunities and improved livelihoods to its citizens,” she said.
The ISN, according to the World Bank, will build on the lessons of the Comprehensive Peace Agreement (CPA) period 2005-2011, particularly the experiences of the Bank-administered multi-donor trust fund in South Sudan (MDTF-SS).