National, News

World Bank Pledges to support South Sudan’s Financial Reforms

Deng Athian


World Bank Country Director for Eastern & Southern Africa, Osman Dione, reaffirmed the organization’s commitment to supporting financial reforms in South Sudan.

Dione made the recommitment during a meeting with Governor of Bank of South Sudan, Dr. James Alic Garang, and Finance Minister Dr. Barnaba Baak Chol.

The meeting, held on Monday in Juba, addressed key issues within the financial sector, including: Strengthening financial inclusion that’s expanding access to financial services for all South Sudanese.

It also focused on modernizing payment systems by implementing efficient and secure digital payment infrastructure.

The World Bank and financial dockets also discussed about supporting the Financial Intelligence Unit (FIU), enhancing the FIU’s capacity to combat money laundering and terrorism financing.

They further talked about building capacity by Investing in training and development for financial sector professionals.

Mr. Dione commended the Bank of South Sudan’s leadership for its ongoing reform efforts and emphasized the potential benefits for the South Sudanese people.

“The World Bank recognizes the critical role a robust and inclusive financial sector plays in South Sudan’s economic development,” he stated.

“We remain committed to supporting the government’s initiatives to improve financial inclusion, modernize payment systems, strengthen the FIU, and build capacity within the sector” he added.

For his part central Bank governor Dr. Alic expressed appreciation for the World Bank’s partnership and highlighted specific areas where support is needed:

He pointed out developing and implementing financial inclusion strategies such as expanding access to financial services, particularly in rural areas.

Dr. Alic also noted modernizing national payment systems through implementing digital payment solutions for greater efficiency and security.

He further mentioned of Investing in capacity building by equipping financial sector professionals with the necessary skills and knowledge.

The meeting concluded with discussions on potential collaboration areas between the World Bank and the Bank of South Sudan, including technical assistance for developing financial inclusion strategies and modernizing payment infrastructure.


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