The Republic of South Sudan has become the newest member of the World Bank Group after its Minister of Finance and Economic Planning, Kosti Manibe Ngai, signed the Bank’s Articles of Agreement and Conventions in Washington DC April 18, 2012.
The event was witnessed by John Dor Majok, Deputy Governor of the Central Bank of South Sudan, and Albino Chol Thiik, Acting Undersecretary of Economic Planning, as well as officials from the Bank Group.
“I am very pleased to welcome South Sudan, the world’s newest country as our newest member of the World Bank Group,” said Obiageli Ezekwesili, the World Bank’s Vice President for Africa.
As a member, South Sudan will have access to grants and zero interest financing from the International Development Association, according to the World Bank.
The country recently officially became a member of the International Monetary Fund (IMF).
South Sudan became the world’s newest country in July 2011.
By Ekow Quandzie