July 29, 2024 (JUBA) – South Sudan has acquired a $400 million loan from the African Development Bank (AfDB) to boost an economy facing very high inflation. The country’s Finance minister, Marial Dongrin Ater said they reached a deal with the AfDB to obtain money meant to enhance agriculture as well as business. “We have signed off a $400 Million agreement with AfDB to support businesses countrywide. We are calling upon all eligible business owners, companies, and organizations to apply for this funding opportunity. The goal of this activity is to advance a more resilient private sector in the country”, he remarked. In a statement, the Board of Directors of the AfDB, said a $46.2 million grant had been approved to support the first phase of the Climate Resilient Agri-Food System Transformation Programme in South Sudan. This initiative, it noted, seek to boost agricultural productivity, improve food security and enhance the country’s resilience. According to the AfDB, South Sudan as the third most fragile country in the world and the fifth most vulnerable country to climate change globally. The statement from the AfDB identified agriculture in South Sudan as the primary source of income for about 95 percent of the …

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