Juba, South Sudan, November 30, 2012 – IFC
Vice President for Advisory Services Nena Stoiljkovic has affirmed IFC’s
commitment to supporting smaller businesses in South Sudan, signing an
agreement to roll out the Business Edge™ training program in the country,
where it will help entrepreneurs gain the skills they need to succeed.
IFC is a member of the World Bank Group.
During her first visit to South Sudan, Stoiljkovic
met with the Ministers of Justice and Health, other government officials,
private sector representatives, and some of IFC’s development partners
in the country. During these meetings, she discussed ways South Sudan can
boost its economy, particularly by investment climate reforms. On
behalf of IFC, she also signed an agreement with the Bank of South Sudan
to support global trade finance.
“Since independence, South Sudan has shown
its commitment to improving the investment climate and building a strong
private sector to drive economic growth and employment,” Stoiljkovic said,
noting the setting up of a Business Registry and regulatory reforms to
attract investors. “IFC will continue to provide investment and advisory
services while South Sudan works to achieve lasting stability and growth.”
During her visit, Stoiljkovic signed the
Cooperation Agreement with Equity Bank to improve financial literacy among
the bank’s clients in South Sudan through IFC’s Business Edge program.
The agreement will launch the program in South Sudan, with the goal of
reaching hundreds of smaller businesses working with banks, the Chamber
of Commerce, Industry and Agriculture, and other companies. To date, Business
Edge has trained more than 100,000 entrepreneurs in Africa in marketing,
finance, operations, and other areas.
IFC’s work in South Sudan has helped the
Government establish a legal and regulatory framework for investment. With
IFC’s support, South Sudan has drafted and passed nineteen laws, including
the Investment Promotion Act, which have cut business start up time and
made it easier to do business in the country. IFC is also helping develop
public private partnerships that will increase investment in agriculture,
health, and other sectors.
IFC supports private sector development in
South Sudan and in seven other countries in sub Saharan Africa recovering
from conflict through its Conflict Affected States in Africa (CASA) Initiative.
CASA helps countries create the right conditions for business growth and
supports small and medium enterprises.
IFC, a member of the World Bank Group, is
the largest global development institution focused exclusively on the private
sector. We help developing countries achieve sustainable growth by financing
investment, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12, our
investments reached an all-time high of more than $20 billion, leveraging
the power of the private sector to create jobs, spark innovation, and tackle
the world’s most pressing development challenges. For more information,