The African Development Bank (AfDB) has approved a $14 million grant for South Sudan, seeking to boost food security, value addition and trade.
According to AfDB country manager for South Sudan, Benedict Kanu, the five-year project will be implemented by the Food and Agriculture Organization of the United Nations (FAO) in conjunction with the Ministry of Agriculture and Food Security.
The project will help increase the production and incomes of almost 20,000 farming families in Central and Eastern Equatoria and Jonglei states, benefitting formerly internally displaced persons now returned to their homes in need of economic reintegration.
Further, the project will also create aggregation business opportunities for farmers and traders, including women and youth, and provide them with new skills and knowledge, and the agro-processing equipment they need to produce competitive products.
In August last year, the International Monetary Fund (IMF) approved a $334 million loan for South Sudan, geared towards improving the country’s ailing economy.
The allocation was part of the general allocation of Special Drawing Rapid (equivalent to $650 billion to boost global liquidity) approved by the Fund’s Board of Directors on 2nd August 2021, which became effective on 23rd August 2021. This was the largest SDR allocation in the history of the IMF and was credited to IMF member countries in proportion to their existing quotas in the Fund.