Posted by: africanpressorganization | 15 June 2011

World Bank Advances $75 Million for Early Engagement in Upcoming Nation of South Sudan

 


 

 

 

World Bank Advances $75 Million for Early Engagement in Upcoming Nation of South Sudan

 

 

WASHINGTON, June 15, 2011/African Press Organization (APO)/ — The World Bank s Board of Executive Directors today

recommended that a $75 million trust fund be established to help provide health

care, infrastructure, and employment for the people of South Sudan. The

territory voted in a peaceful referendum in January 2011 to separate from

Sudan, and is expected to become independent on July 9 this year. The Bank s

Board has sent its recommendation to the Bank s Governors for their approval.

 

The World Bank is seeking to provide early assistance to South Sudan given the

urgency of challenges faced by the nascent state, as it emerges from over two

decades of civil war and embarks on the long journey towards nation building.

The South Sudan Transition Trust Fund (SSTTF) builds on the framework of the

2011 World Development Report on Conflict, Security and Development, which

calls for more responsiveness to the needs and opportunities of fragile and

conflict-affected situations such as South Sudan. The Bank s new Strategy

Africa s Future also calls for more creative and timely interventions to

deliver development results to the poor. South Sudan has some of the worst

human development indicators in the world.

 

The SSTTF will help extend the development gains generated by the Multi-Donor

Trust Fund-Southern Sudan (MDTF-SS), administered by the World Bank during the

past six years. The MDTF-SS has funded the rehabilitation of roads, built

schools, provided bed nets, increased food production, and trained local

government officials in key functions, among other things.

 

Expanding on this progress, the SSTTF will be used to rapidly increase the

coverage of child immunization, provision of vitamin A, de-worming, and other

selected services for rural mothers and children. It will also increase rural

livelihoods opportunities, and improve rural access by supporting a project to

provide 1,400 km of feeder roads in areas with high agricultural potential. In

addition, the trust fund will help create jobs through grants to 200

entrepreneurs, increasing outreach to women entrepreneurs, and building up a

micro-finance client base of 30,000 individuals. Through such projects, the

trust fund aims to deliver timely and critical interventions that will help

improve the lives of poor people in quicker and practical ways.

 

The SSTTF will also build on the robust analytical and advisory services the

Bank has been providing the Government of Southern Sudan. These services play a

key role in better understanding South Sudan s development challenges, and help

forge and leverage partnerships among donors.

 

The $75 million will be provided from IBRD funds, and will be made available to

South Sudan in the first few months after independence. South Sudan has applied

for membership to the World Bank Group, which is working closely with the IMF

to ensure that the joint processes can be completed as quickly as possible.

Once the new nation attains membership, it will likely become eligible for IDA

resources.

 

SOURCE 

The World Bank


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