Jenifer James
Africa-Press – South-Sudan. The governor of the Bank of South Sudan, Dr James Alic, jetted back into the country with optimism for the country’s economic prospects after attending the African Development Bank and African Development Fund annual meeting.
The meeting, which ended last week, aimed at making resolutions on economic issues for the continent.
Addressing the media after landing in Juba on Sunday, Dr Alic described the meeting as successful and called on the investors to come and invest in the country.
“I can just summarize that the meetings were very successful,” he said.
He said African leaders exchanged views and allowed the board of directors of the two institutions—the African Development Bank and the African Development Fund—to make resolutions on those issues.
“Among those issues was the need to reform the global financial architecture. We articulated and pushed very hard, and our views were expressed in a communique. So that’s the first thing that I can put forward,” he said.
Alic stated that the board made a number of resolutions about how it could help the bank deliver on the five high priority areas that President Adesina had highlighted since his arrival in 2015.
“There were also many opportunities where we met at the regional level, and one of those was the meeting for the Horn of Africa initiative, where South Sudan is a member, and a number of issues were discussed,” he said.
South Sudan had the opportunity, like the other four countries, to be granted access under a financing arrangement called the Africa Disaster and Risk Financing Mechanism.
“It is one of those that is going to allow us to connect South Sudan with Ethiopia and other countries in the region, while this is an opportunity where governors and ministers of finance and other heads of state interact and exchange views on how to improve global and regional integration,” he said.
According to Alic, African leaders need to know that South Sudan is a point of business.
“We believe that there is a need to tell the region and the world that South Sudan is a point for business, that there is so much at home, and that there is a lot beyond the oil,” he said.
Last week, the Board of Governors of the African Development Bank Group approved a $117 billion (88.1 billion units of account) general callable capital increase for the African Development Bank to preserve its lending capacity and respond to the requirement of a credit agency. The approval increases the bank’s authorized capital from $201 billion (UA152 billion) to $318 billion (UA240 billion).
Source: The City Review South Sudan
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