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


Honest tribute to Bishop Santo Pio of Juba Archdiocese 2016-02-05 07:42:13 By James Okuk, PhD The Auxiliary Bishop Santo Loku Pio (born in 1969) of Juba Archdiocese has been consistent in his stance on faith and reason in the context of South Sudan. We should keep (...)

The long walk to end hunger 2016-02-04 18:50:33 By Marco Cavalcante Abdalla lives in the state of Kassala in eastern Sudan and does not really know what happens in the General Assembly of the United Nations in New York, thousands of (...)

NCP regime poised for Darfur Referendum willy-nilly coinciding with new escalation of killing spree 2016-02-03 08:42:43 By Mahmoud A. Suleiman The flaws in the NCP decision of carrying out Administrative Referendum in Darfur regardless of the attrition proxy civil wars it continues waging against the unarmed (...)


MORE






Latest Press Releases


Civil society group decries delay of S. Sudan transitional gov’t 2016-01-29 18:08:53 South Sudan Civil Society Alliance Date: 29.1.2016 For the immediate Release Press Release Following the passing of deadline of the formation of Transitional Government of National Unity in the (...)

Africa: Strengthen steps to end child marriage 2015-12-14 08:04:41 December 10, 2015 African governments should coordinate action to improve laws, education, health care, and public awareness to end the scourge of child marriage, Human Rights Watch said today (...)

Professor Akolda, it is too early for you to go 2015-12-06 06:36:15 I learnt from social media of the untimely departure of Professor Akolda Maan Tier on the 30th Nov 2015, whom I knew and admired, as one of the great, committed sons of both Sudans, who dedicated (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.