The World Bank will invest some $130 million over the next three years in South Sudan under its first interim strategy for the country. The focus: build the capacity of public and private institutions.
The strategy was approved by the bank’s board of directors on Thursday (Feb. 28). It is not yet publicly available, though, Albino Olak, a representative of the bank in South Sudan, told Devex in an email. But according to a press release, the bank will help create jobs and improve service delivery “by promoting effective economic management and governance” under the strategy.
The strategy is informed by a number of reports and initiatives, including the bank’s 2011 World Development Report, which focuses on fragile states, and the New Deal initiative announced at the 4th High-Level Forum on Aid Effectiveness which called for a development architecture “better tailored” to fragile contexts.
South Sudan joined the World Bank in April 2012, barely a year since becoming an independent state. It has been receiving support from a World Bank-managed multidonor trust fund to improve management capacities of ministries.
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