The private investment arm of the World Bank, the International Finance Corporation has created a program designed to help stimulate more investment into the new country of Southern Sudan, scheduled to emerge as African’s newest independent country on July 9 this coming year.
The project has already attracted donors to the tune of $9 million, which is now beginning its second phase. The organization, based in Washington, DC has said that it plans to attract investors who wish to participate in the development of small and medium-sized businesses as well as increase available credit to companies.
“We aim to prove that South Sudan is a good place for investment by investing ourselves,” Rachel Kyte, the IFC’s vice president for business advisory services, told reporters in the capital, Juba, today.