IFC backs South Sudan’s non-oil revenue plans

17 February 2012

Sudan Tribune |February 16, 2012

(JUBA) — Jean Philippe Prosper, the International Finance Corporation (IFC) director for Eastern and Southern Africa has said South Sudan needs a vibrant private sector, if the country is to realize a meaningful transition from reliance on oil revenues to non-oil resources.

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.

Addressing the media at Juba airport after a two-day visit to Juba, the South Sudan capital, Prosper lauded the government’s drive to promote the private sector, which he said will enable citizens access jobs and diversify the country’s economy to avoid heavy dependency on oil.

The IFC director, who held meeting with South Sudan’s vice president, Riek Machar and other key government officials further, reiterated the institution’s plan to make an impact in private sector development, citing facilitation of public-private partnership especially in the development of infrastructure and social services as key.


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