-- The African Development Bank (AfDB) has provided over 30 million
U.S dollars to support South Sudan’s membership in the African trade, insurance
and development body and also strengthen electricity distribution networks.
AfDB said in a statement on Thursday
evening it has approved 18.15 million U.S. dollars to Juba to help with required
resources to support its membership in the African Trade Insurance (ATI) and
Trade and Development Bank (TDB).
AfDB also approved a supplementary
loan of 14.57 million dollars to rehabilitate and expand the electricity
distribution networks in the South Sudanese capital Juba.
TDB’s major mandate includes financing
and fostering trade, socio-economic development and regional economic
integration across a broad range of products and services, across both the
private and public sectors, including debt, equity and quasi-equity as well as
The ATI provides medium to long term
credit and political risk insurance, as well as other risk mitigation products
to its member countries and related public and private sector actors.
AfDB said the facility is a critical
step and a prerequisite for the respective institutions to commence their
operations within South Sudan.
It added that the funding is geared
towards building institutions and improving resilience and livelihoods for the
South Sudan population by addressing not only the humanitarian crisis and
strengthening institutional capacity but also facilitating private sector
investments in a fragile environment.
“It is anticipated that joining the
TDB and ATI will help South Sudan leverage the limited resources available
to the country by mobilizing additional significant resources that can be
invested in the importation of essential goods (such as medicines,
foodstuff, communication equipment, spare parts among others), the
rehabilitation of basic infrastructure and the strengthening of the
productive sector of the country,” AfDB said.
Regarding the 14.57-million-dollar
supplementary loan, the bank said the power distribution system rehabilitation
and expansion would strengthen the distribution networks in Juba to provide
reliable electricity supply from existing and future generation facilities and
also satisfy the suppressed load and demand growth in the city.
The project consists of the
construction of 145 km of 33 kV lines and another 370 km of 415/230 volt lines.
AfDB said the funds will be used for
purchase and installation of 195 transformer stations, as well as 20,000 prepaid
meters for connecting 20,000 new customers.
It added that the project is part of
the Bank’s High 5s for Powering and Lighting up Africa as it will increase the
electrification rate in the south Sudan, both for residential and commercial