AfDB approves $18.15m to support South Sudan’s in the African organizationsStaff Writer | April 18, 2017
The African Development Bank Group (AfDB) has approved a $18.15 million facility to the Government of South Sudan (GRSS), to assist the country with the required resources for its African Trade Insurance (ATI) and Trade & Development Bank (TDB) (formerly known as PTA Bank) membership application.
Africa The African Development Bank Group
The approved facility complements other AfDB’s ongoing and planned interventions geared towards building institutions and improving resilience and livelihoods for the South Sudan population by addressing not only the humanitarian crisis and strengthening institutional capacity but also facilitating private sector investments in a fragile environment.
In this regard, it is anticipated that joining the TDB and ATI will help South Sudan leverage the limited resources available to the country by mobilizing additional significant resources that can be invested in the importation of essential goods (such as medicines, foodstuff, communication equipment, spare parts etc.), the rehabilitation of basic infrastructure and the strengthening of the productive sector of the country. ■