Young South Sudanese shall soon benefit from a $5 million donation from the African Export-Import Bank (Afreximbank) in partnership with the European Union for the development of the agricultural sector and infrastructure in the country.

The donation is part of the bank’s interventions to develop national export and investment roadmap to diversify the South Sudan’s economy and empower the youth, who constitute more than half of the country’s population.

The project, which has already commenced, will soon enter its implementation phase under the supervision of the Afreximbank to ensure effective and efficient processes, according to a senior official at the Ministry of Finance and Planning.

“In a week or two, they will send their representatives and we will begin. The $5 million that has been sent to empower the youth, the local investors and the farmers as planned, will be supervised by the Afreximbank itself,” said Maker Chienggan, Inspector of Account and Revenues at the Ministry of Finance and Planning.

Maker was addressing the media after a virtual meeting between the government of South Sudan’s representatives and Afreximbank last week.

The Afreximbank’s strategic export and investment plan for South Sudan will also help the government through the Ministries of Finance and Economic Planning, Trade and Investment, Agriculture and Food Security and the Investment Authority diversify the economy.

“The Bank is delighted to be supporting this initiative which I think is key for transformation of South Sudan sustainable socioeconomic development,” said Babajide Sodipo, Afreximbank Project Consultant Coordinator.

“It is inevitable that the development of export and investment strategy cannot be separated with this new project. It is important these two projects influence each other together so that there is no duplication of resources,” Sodipo added.

The Inspector of Macroeconomic Planning at the Ministry of Finance and Economic Planning, Makuac Wat Thong said the Afreximbank’s main aim was making things go according to plan for economic diversification in South Sudan.

“The most important thing in this project is the diversification of the economy. It will help South Sudanese open up their agricultural and infrastructure sectors. Now we have left things to happen by accident and should be doing things by designing,” Wat said.