Home | News    Sunday 1 October 2017

South Sudan parliament approves $47.88m AfDB loan

separation
increase
decrease
separation
separation

September 30, 2017 (JUBA) - Members of South Sudan parliament on Monday approved a $47.88 million loan obtained from the African Development Bank (AfDB).

JPEG - 37.9 kb
South Sudanese MPs stand during a parliamentary session in Juba on 31 August 2011 (AFP)

The approval came after the chairperson of parliament’s finance committee, David Nailo presented before lawmakers documents on the AfDB loan.

The loan, he told his counterparts, was provided by the financial institution on concession terms for developmental activities in the war-torn nation.

According to the lawmaker, $27.76 million dollars of the $47.88 million was given to the government as a loan at an interest ranging from 0-1 percent per annum while the $20.12 million was given as a grant to the government.

He, however, stated that 14.75 million of the loan will be used to develop the Juba power distribution system’s rehabilitation and expansion project.

$18 million will be used for membership subscription to regional financial institutions, including the Trade and Development Bank, which South Sudan recently joined.

Another $15.13 million, the finance committee chair said, will be for institutional support for domestic revenue mobilization, citing the establishments of South Sudan Revenue Authority.

When South Sudan got its independence in 2011, one of its daunting challenges was how it would diversify an economy, largely dependent on oil revenues, which supports 98 percent of its budget.

(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.
  • 1 October 2017 07:35, by Rumbek S. Sudan

    Is the parliament comfortable with the current roads in South Sudan? I thought infrastructure will be the major factor to improve diversification of our economy. How long will Salva Kiir be asking defense ministry to repair roads?

    repondre message

  • 1 October 2017 08:30, by Eastern

    The kleptocracy in Juba is out on an all-out mortgaging spree..! Kiir carelessly squandered the little that South Sudan has to fight a futile war; now he’s mortgaging the country by taking loans after loans..!

    repondre message

    • 1 October 2017 09:04, by jubaone

      Eastern,
      The Kiirminal has no strategy for repayments of these loans. SS will default and is unable to repay the creditors and so mortgage much of all unexploited resources to that end. These means 1-3 generations will have to bear this stupid unaccounted loans and so remain in perpetual debt. Khartoum has struck good deal with idiots.

      repondre message

  • 1 October 2017 12:55, by Wutkhor

    Dinka’s are the best for stealing, destructions, lies and grabbing other belonging.
    It’s a big and great crime to share same nationality with Dinka’s, SS must be splits into various states otherwise we wil not stop fighting until Dinka’s are overthrown or the country will permanently instable.

    repondre message

    • 1 October 2017 18:13, by Don-Don Malith Rual

      This man 👨 need to be sealed 👄 mouth with some dollar 💵 dollars and you can see him changing his statement by tomorrow.
      Or have his mouth 👄 zip. MONEY TALK, IF you doubt me try that n this has been Our biggest problems as Southerner, you can’t find any honest person when it comes to money 💵 game

      repondre message

  • 1 October 2017 15:19, by Wensi

    Loan after loan after loan. This shows that the evil-hearted fools don’t care at all about the future of South Sudan and the burden they’re going to leave to the next generations. They have heavily debt the country. It’s only God who knows when He will let Kiir Mayar says that, he had enough.

    repondre message

  • 1 October 2017 18:27, by Don-Don Malith Rual

    The country is in debts this is why we are voiceless, n told what to do by burgorise (the ruling elite) 🌕
    Only folks themselves will look for possible 🙆 way to redicat this poverty we are in

    repondre message

Comment on this article



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


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Sudan can not give what it does not have 2018-10-16 14:36:47 The Sudanese Regime Tends to Order Righteousness to others while ignoring doing so for itself By Mahmoud A. Suleiman Heads of Failed States in the African Continent are trying to save other (...)

Ethiopia’s PM should review policies 2018-10-14 20:42:05 Ethiopian Prime Minister Dr Abiy Ahmed needs to change course in some of the policies he introduced in Ethiopia before history that brought him to leadership repeat itself. By Lul Gatkuoth (...)

Evaluating the IGAD-led peace mediation in South Sudan 2018-10-09 13:19:50 Lako Jada Kwajok September 12, 2018, marked the signing in Addis Ababa of the revitalised peace agreement also known as Revitalised Agreement on the Resolution of Conflict in the Republic of (...)


MORE






Latest Press Releases


4th Annual Tony Elumelu Foundation Entrepreneurship Forum Announced for 25th October 2018 2018-10-15 12:38:14 PRESS RELEASE OCTOBER 14, 2018 Africa’s leading entrepreneurship-focused philanthropic organisation, the Tony Elumelu Foundation (TEF), has announced October 25, 2018, as the date for its (...)

Unity State community in Kenya supports Khartoum peace agreement 2018-08-17 08:33:21 PRESS STATMENT 14th Aug, 2018 Re: We shall Rally behind Khartoum Peace Agreement The Unity State Community Association in Kenya was established in 2010 to organize and mobilize the people of (...)

The Suspension of Hurriyat Online Newspaper 2018-04-29 07:04:37 Sudan Democracy First Group 28 April 2018 The Sudanese civil and political circles and those concerned with Sudan were shocked by the news that the management of Hurriyat online newspaper has (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.