South Sudan negotiates $250 million Afreximbank loan to combat covid-19

(Ecofin Agency) - South Sudan is seeking a $250 million loan from Afreximbank to finance its response plan against the coronavirus pandemic. The information was reported on August 24 by Lily Albino Akol (pictured), the Deputy Minister of agriculture and food security.

The new resources will, according to her, help close the deficit in the country’s revenues. Part of the money will also fund the peacekeeping strategy and the implementation of job-generating infrastructure projects.

“We will look at the implementation of the peace agreement, the fight against Covid-19, and food security in terms of availability of necessary commodities in the market as well as agricultural production,” the minister said.

Despite its huge oil reserves, South Sudan has been experiencing a dire economic and social crisis, aggravated by the conflict. Observers accuse the government of making use of its revenues to finance the civil war that has been tearing the country since 2013.

According to Minister Akol, the finalization of the loan agreement with Afreximbank is subject to the adoption of certain measures by the government.

Moutiou Adjibi Nourou