Juba, South Sudan, November 15, 2013 – IFC,
a member of the World Bank Group, today announced progress with South Sudan’s
Central Bank and the South Sudan Bankers’ Association in training market
professionals to help increase access to finance for smaller businesses
in the country so they can expand and enter new markets.
The three organizations recently hosted two
events attended by representatives from South Sudanese banks that aimed
to help banks work more efficiently with micro, small and medium enterprises.
The events were part of IFC’s strategy to promote private sector growth
in South Sudan, by building the capacity of South Sudan’s banks to increase
their lending to smaller businesses.
John Dor Majok, Deputy Governor for Bank
of South Sudan, said, “The private sector is the engine of growth, and
it must have access to finance if it can fulfill its role. IFC is helping
sensitize South Sudan’s financial institutions to look into this issue
Oumar Seydi, IFC Director for East and Southern
Africa, said, “IFC is committed to helping South Sudan develop its private
sector and is working with public and private sector partners in the country
to increase access to finance for smaller businesses. These training events
are part of IFC’s strategy to help South Sudan build a strongeconomy and
a stable and prosperous future.”
An agriculture finance training event introduced
participants to the basics of agriculture finance, risk management, and
innovation in the sector. A small and medium enterprise training event
provided information on SME banking models, credit risk management for
SME lending, and other tools and methods related to SME banking, with a
special focus on women.
Access to finance is a major constraint
to economic growth in South Sudan, where only about 2 percent of the population
has access to formal financial services, and access to banking services
outside Juba is very limited.
The training events were attended by about
50 operational staff and decision makers from 17 banks. The events were
organized by IFC’s Access to Finance Business Line and supported by IFC’s
Conflict Affected States in Africa Initiative (CASA), which supports private
sector growth in nine conflict affected countries in Sub Saharan Africa.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. Working with private enterprises in more than 100 countries,
we use our capital, expertise, and influence to help eliminate extreme
poverty and promote shared prosperity. In FY13, our investments climbed
to an all-time high of nearly $25 billion, leveraging the power of the
private sector to create jobs and tackle the world’s most pressing development
challenges. For more information, visit www.ifc.org