World Bank names Harvard professor as chief economist
World Bank names Harvard professor as chief economist. Image Source: IANS News

Juba, Jan 27 : The World Bank has announced a $100 million relief package for flood victims in South Sudan.

Ousmane Dione, World Country Director for Eritrea, Ethiopia, South Sudan and Sudan in the Eastern and Southern Africa region, told journalists in the South Sudan capital, Juba on Wednesday that the already approved funds will be available to the government in mid 2022, Xinhua news agency reported.

"We believe the agenda of floods in South Sudan should be taken seriously, funds are already approved and hopefully will be released," said Dione.

Heavy flooding since May 2021 affected more than 840,000 people across seven states of South Sudan.

According to UN agencies, the floods have further exacerbated the already dire humanitarian situation with 7.2 million people, including millions of children facing risk of hunger.

The World Bank is already supporting several active projects in agriculture, health, social protection and community resilience sectors to a total tune of 265 million dollars.

Dione added that they have mobilised additional $38 million to support refugee residents in South Sudan and their host communities. In addition, he disclosed that they are not only supporting development programmes, but also financing capacity building in the youngest nation.

South Sudan is struggling to stabilise it's war-battered economy amid high inflation caused by disruption of oil production by years of conflict since December 2013.

The disruption in international oil price has also hit hard earnings from oil-revenue that Juba depends on 95 per cent to finance its fiscal expenditure.

You May Like

Latest Video News:

Entertainment News

Latest News