The Republic of South Sudan and the World Bank Group-Multilateral Investment Guarantee Agency, MIGA signed legal agreements during April 2014 spring meetings on Saturday in Washington DC in the United States of America.
In a statement issued on Tuesday Finance Minister Aggrey Tisa Sabuni signed the agreements to facilitate the agency’ s ability to insure foreign direct investment into South Sudan.
He appreciated the World Bank’s agency for its commitment to supporting investment in the country.
Mr Tisa told the bank group, ‘Signing this agreement during these challenging times is tremendously significant and important for our country’.
MIGA Vice President and Chief Operating Officer Michel Wormser welcomed the news that South Sudan is open for business.
World Bank Country Director for South Sudan Bella Bird said the bank is committed to bringing the entire array of World Bank Group instruments to support the country’s development.
The agreements would pave way for private sector investment to generate job opportunities in agribusiness, power and transportation in South Sudan.