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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.
About IFC
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, visit
www.ifc.org
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