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 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 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


How pursuit of good life dominates ethical conscience in Africa 2014-07-27 05:03:47 By Francis Ayul Yuar July 26, 2014 - Looking at the African Continent, my country in particular within this critical time of post independence political and ethnic’s violence, one’s mind wondered (...)

2015 elections are not a priority for Sudanese 2014-07-23 04:35:55 By Mahmoud A. Suleiman July 22, 2014 - This article comes against the backdrop of the news that reported the announcement of the National Elections Commission (NEC) that it had prepared the (...)

Bashir rests assured laden-burden on the Sudanese people’s shoulders 2014-07-14 06:09:16 By Mahmoud A. Suleiman July 13, 2014 - Omer al-Bashir believes that his continuing in power better protects him from tracking and prosecution by the International Criminal Court (ICC). He clings (...)


MORE








Latest Press Releases


Memory, healing and transformation in South Sudan 2014-07-23 05:55:08 Memory, Healing and Transformation in South Sudan A Working Paper by David K. Deng July 2014 Contents Introduction 1 What is memorialization? 2 Timing 2 Risks 3 Principles 3 Integrity 3 (...)

South Sudan: Independence Day marred by ongoing war crimes and looming famine 2014-07-09 01:39:56 AMNESTY INTERNATIONAL PRESS RELEASE 8 July 2014 South Sudan: Independence Day marred by ongoing war crimes and looming famine · Both sides to the conflict committing war crimes and crimes (...)

UN urged to probe alleged cover-ups and manipulations by its mission in Darfur 2014-06-26 05:40:52 Strengthen Peacekeeping Mission’s Rights Reporting, Civilian Protection (New York, June 25, 2014) – The United Nations secretary-general should investigate alleged cover-ups and manipulation of (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.