World Bank pledges to back South Sudan’s financial reforms

JUBA – The World Bank on Monday pledged to support South Sudan’s ongoing financial reforms which aim to put the country on the path to economic growth and development.

World Bank Country Director for Eastern and Southern Africa, Mr. Osman Dione, made this commitment during a meeting with the Governor of the Bank of South Sudan, Dr. James Alic Garang, and Minister of Finance, Barnaba Bak Chol.

Discussions focused on critical issues within the country’s financial sector, including strengthening financial inclusion and operationalizing payment systems.

The meeting also addressed the need to support the Financial Intelligence Unit and enhance the capacity building of banking staff.

Mr. Dione reiterated his commitment to collaborating closely with stakeholders to accelerate financial reforms and restore economic growth.

“The World Bank recognizes the importance of a robust and inclusive financial sector in South Sudan’s economic development,” said Mr. Dione.

“We are committed to supporting the government’s effort to improve financial inclusion, modernize payment systems strengthen the FIU and build capacity within the financial sector,” he added.

For his part, Garang expressed his appreciation for the World Bank’s support toward the financial reform agenda in the world’s youngest country.

“We require support in gearing up our national payment system, expanding financial inclusion across the country and investing in capacity building for our financial institutions,” said Dr. Garang.