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Wednesday, 26 September 2012

EU to help South Sudan meet development challenges

The EU has earmarked at least €3 million to improve South Sudan’s microeconomic policies and institutions. The donation will be funnelled through the International Monetary Fund (IMF) trust fund, and will be specifically aimed at developing skills and polices in the young nation, through IMF’s expert capacity development activities.
The agreement, which was reportedly signed by Francesco Mosca, the EU Development and Cooperation (DEVCO) Director for Sub-Saharan Africa and IMF Deputy Managing Director, Nemat Shafik, has also been earmarked to support capacity building in statistics.
“The European Union has made it a priority to help the South Sudanese Government to respond to the country’s multiple economic and development challenges. By becoming the principal donor to the Trust Fund, the EU wants to forge a privileged relationship with the IMF, and concert efforts towards strengthening economic governance in South Sudan,” said Mosca, in a statement extended to Sudan Tribune.

Source: Sudan tribune