Ministry of Finance and World Bank Seal Deal for $430 Million Investment in Two Major Projects
By Denilson Denike
JUBA – The Ministry of Finance and Planning has signed a Memorandum of Understanding (MoU) with the World Bank to implement two projects aimed at boosting the agricultural and healthcare sectors in South Sudan. The pacts, signed on Monday, February 5th 2024 involve the injection of $30 million to enhance agricultural activities and $400 million to uplift the healthcare sector.
Hon. Dr. Barnabas Bak, National Minister for Finance and Planning, expressed his gratitude for the tremendous support from the World Bank. He emphasized the country’s prioritization of agriculture and health to improve the living conditions of its people. He also promised transparency and accountability in the allocation and management of the funds.
“The World Bank has stood with us throughout this journey, and we have seen the portfolio grow from $350 million to $1.4 billion in implementing various projects in the country,” said Dr. Bak.
“We will continue to work hand in hand with the World Bank and other developmental partners to facilitate their projects and ensure timely implementation,” He added.
Hon. Josephine Joseph Lagu, Minister for Agriculture and Food Livelihoods, expressed delight at the additional finances provided by the World Bank for the Resilient Agriculture Livelihoods project (RALP). She highlighted the commitment of the government to successfully implement the project, with the assurance of further support from the World Bank for other priority sectors like health and education.
“In the last two years, the Ministry of Agriculture has focused on the motto of ‘Let’s produce what we can.’ We aim to produce our own food instead of relying on imports,” said Lagu.
Ousmane Dione, Country Director for Eritrea, Ethiopia, South Sudan, and Sudan in the Eastern and Southern Africa Region, emphasized the importance of supporting these projects. He highlighted the connection between food security, health, and the overall well-being of the South Sudanese.
“When you have food, you have health, and you have provisions for the journey. This support is an investment in the future generations of South Sudan,” said Dione.
The Resilient Agriculture and Livelihood Project (RALP) will receive an additional financing of $30 million from the International Development Association (IDA). This funding will be allocated to capacity building, investment support for agricultural production, food production, animal vaccination, reduction of fish waste and losses, and project management.
The South Sudan Health Care Transformation Project will receive approximately $400 million from the World Bank and other donors. This investment aims to improve the healthcare sector and provide better access to healthcare services for all South Sudanese.
With these projects, the Ministry of Finance and Planning and the World Bank are working together to uplift the economy of South Sudan and improve the lives of its people.
