South Sudan Government Intends To Borrow 500 Million Dollars To Fund Infrastructure

During the council of ministers session, the finance minister confirmed that the government wish to borrow 500 million dollars to fund infrastructure and other development in the country. 

The money will be borrowed from Afri-Exim Bank for the development of the country.  

Speaking to the press after the council  of ministers meeting on Friday, the minister of Information, Michael Makuei , said that the loan will support infrastructural development and the peace process.

South Sudan Information Minister Hon. Makuei Lueth confirmed it to the press and insisted for money is for developmental purposes only.  

Hon. Makuei in his own words said that “The presentation from the minister of Finance and planning, that he gave were two presentations. The first one was on a loan facility of 500 million US Dollars to be borrowed from the Afri-Exim that’s the African Import and export bank.”

The question people will be asking will the money really be used to fund developmental projects or be used to fund the current civil war or maybe be looted as usual.  Only time will tell.  

More to follow shortly...