World Bank gives grant to develop private sector in South Sudan
May 24, 2007 (JUBA) — The Government of Southern Sudan (GoSS) and the World Bank signed a grant agreement for a Private Sector Development project to provide USD6.78 million from the Multi-Donor Trust Fund for Southern Sudan (MDTF-SS) on May 24, 2007.
The project will accelerate private sector growth and increase formal employment in Southern Sudan. The Government will contribute nearly USD2.3 million to the first phase of the project, the World Bank said in a press statement.
A key goal of the project is to develop a legal and policy framework for private sector development.
Anthony Makana, Minister of Commerce, Trade and Supply, described the project as an important component of the government’s strategy to promote private sector-led growth. “We must build up the private sector and attract local and foreign entrepreneurs to invest in Southern Sudan. A sound private sector policy is critical to do so”, he said.
Speaking at the signing ceremony, the World Bank Country Director for Sudan and Ethiopia, Ishac Diwan said, “The Government of Southern Sudan is taking concrete actions to make Southern Sudan a dynamic place for business growth, and this project is an important step in the right direction.”
The project will also promote business growth by disseminating information on opportunities and organizing competitions to provide start-up grants to new operators for implementing their business plans. It will help to establish commercially viable microfinance providers.
The project will also identify industrial clusters that are more promising for private sector investment, and empower the Chamber of Commerce and Industry to play an advocacy role in policy making. Another initiative is the establishment of a fruit and vegetable wholesale market in Juba.
This project would involve, among other components, the training and capacity building of local producers in active marketing practices.
Another beneficiary of the project is the Ministry of Industry and Mining. Funds are provided to improve the capacity of the Ministry to build the competitiveness of the industrial sector.
“Training of technical and managerial staff is essential to bring up the fresh university graduates we are now recruiting,” said the Minister, H.E. Albino Akol.
Through this project, the Government plans to offset the effects of the long war that prevented the emergence of entrepreneurs among Southern Sudanese, and take advantage of the broad base of potential export and growth sectors, including hydroelectricity, minerals, agricultural and tourism, etc.
(ST)