The Central Bank of South Sudan has reduced the lending rate from 13% to 10%.
Central Bank Governor Gama Abdalla Wani says the reduction is intended to provide financial security and protection to business enterprises from effects of COVID-19 pandemic.
The bank governor also calls on lenders to renegotiate existing loans to protect business facing challenges caused by the virus.
The reduction in lending rate is one of six economic reforms measures announced by the central Bank on Tuesday.
Abdalla says the measures will create favorable conditions for swift economic recovery after the pandemic.
Central Bank governor spoke to the press on Tuesday in Juba.