Home | News    Friday 2 May 2014

World Bank, South Sudan ink investment deal

separation
increase
decrease
separation
separation

By Julius N. Uma

May 1, 2014 (JUBA) – South Sudan and the World Bank’s Multilateral Investment Guarantee Agency (MIGA) have signed important legal agreements that will facilitate the agency’s ability to insure foreign direct investment in the country.

JPEG - 19.1 kb
The World Bank’s country director for Somalia, Sudan and South Sudan, Bella Bird (Ashorooq TV)

MIGA is the political risk insurance and credit enhancement arm of the World Bank Group and South Sudan became its member in 2012.

Finance minister, Aggrey Tisa Sabuni expressed his appreciation for MIGA’s commitment to supporting investment into the world’s youngest nation.

“Signing this agreement during these challenging times is tremendously significant and important for our country. Our actions today signal that we are reentering a conversation that we began at the South Sudan Investment Conference in early December 2013,” the minister said in a statement.

Michel Wormser, MIGA’s vice president and chief operating officer equally welcomed the news that South Sudan is open for business.

“MIGA has a long history of fosteringprivate sector development in countries that have experienced conflict, and we are pleased to be in a position to help South Sudan attract investors to achieve its development priorities,” said Wormser.

Bella Bird, the World Bank country director for South Sudan, Sudan and Somalia said the new nation has vast investment needs thus required lots of support.

“We are committed to bringing the entire array of World Bank Group instruments to support the country’s development,” said Bella.

“Private sector investment will be essential to generate jobs and opportunities in a fragile country such as South Sudan,” she added.

Officials from both entities also discussed several areas where MIGA could potentially support foreign investments, including agribusiness, power, and transportation.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 2 May 2014 10:34, by mathem jech amer

    Big MOUTHs are now very happy waiting huge money and immediately put them into their foreign banks.I support US sanction on all governemnt officials foreign accounts freezing them all and see were they will take the money again.

    repondre message

  • 2 May 2014 13:31, by Wensi

    Fools are just applauding the agreement where they know nothing about the hidden policies which World Bank plays when it comes to conduct business with Africans. By the way, World Bank plus its partner known as IMF are the big destroyers of African Nations’ economies. Their policies towards African countries are full with lures and deceptions. International trading is all about bullying folks.

    repondre message

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Musa Hilal’s "Awakening": Khartoum’s worst nightmare? 2015-04-22 06:33:05 By the Sudan Democracy First Musa Hilal, once one of the principal commanders of the Janjaweed militias which supported the Sudan Armed Forces (SAF) in the 2003/04 ethnic cleansing campaign in (...)

A brief history one man’s destructive misrepresentations 2015-04-18 08:07:54 By Eric Reeves Al Jazeera America is currently airing a two-part documentary that attempts to represent the character and causes of the catastrophe that has overtaken South Sudan following the (...)

Sudan’s election marred by arbitrary detention, and insecurity 2015-04-18 06:31:10 By African Centre for Justice and Peace Studies Sudan’s national general elections began on 13 April 2015. Scheduled to end on 15 April, they were extended one day by the National Elections (...)


MORE






Latest Press Releases


Sudan’s 2015 Elections: A huge step in democratic consolidation 2015-04-22 13:12:25 EMBASSY OF THE REPUBLIC OF THE SUDAN 3 CLEVELAND ROW, ST.JAMES'S LONDON SW1A 1DD TEL: 020-7839 8080 PRESS AND INFORMATION RELEASE (2/2015) Sudan’s 2015 Elections: A Huge Step in Democratic (...)

Sudanese security arrest rights defender Adil Bakheit 2015-04-18 08:04:21 FRONT-LINE DEFENDRSPress StatementSudan Human rights defender Adil Bakheit arrested Human rights defender Mr Adil Bakheit was arrested on 16 April 2015 by the National Intelligence and Security (...)

Which do you choose? Peace or War? 2015-04-18 06:16:42 To the South Sudanese Diaspora Which do you choose? Peace or War? Coalition of Advocates for South Sudan, April 11, 2015 “The Voice of the South Sudanese Diaspora” Who are/What is the South (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.