By Philip Buda Ladu
The government has signed a Memorandum of Understanding (MoU) with the African Development Bank (AfDB) on a green investment facility worth 11.3 million US dollars.
National Minister of Finance and Planning, Eng. Awow Daniel Chuang, and African Development Bank (AfDB) Country Director, Themba Bhebhe, signed the multi-national climate and disaster risk financing projects.
A statement from the ministry’s communication desk indicates that the two parties signed at the ministry headquarters in Juba, over the weekend.
In May this year, the African Development Bank approved $35.25 million for value chain projects and multi-national climate and disaster risk financing that covers four countries, including South Sudan.
As such, South Sudan has been allocated $11.3 million in funding through “green “investment facilities” across the country.
Speaking to the media after the signing ceremony, African Development Bank Country Director, Themba Bhebhe, emphasized that government efforts on climate risks for multi-national cooperation are as real as communities’ resilience.
Meanwhile, the Minister of Finance and Planning, Eng. Awow Daniel, commends the development partners, especially AfDB, the International Monetary Fund (IMF), and the World Bank, for their continuous support on the value chain projects.
Eng. Daniel urged the Ministry of Humanitarian Affairs, United Nations agencies, and climate-related institutions to execute the grants in an accountable and transparent manner.
The project’s key components include setting the enabling environment for the adoption of climate risk financing instruments, improving uptake of climate and disaster risk financing, and strengthening the adaptation and resilience of South Sudan against climate change.