The European Union (EU) and Sweden have contributed 6.1 million dollars to the World Bank in support of the newly activated South Sudan Multi-Donor Transition Trust Fund (MDTTF).
The funds channeled to MDTTF will support capacity building in different government institutions as well as help to create an enabling environment for inclusive economic growth in South Sudan.
Speaking during the signing of the agreement between the EU, Sweden, and the World Bank on Monday in Juba, EU ambassador to South Sudan Timo Olkkonen said: “We believe in this canal potential of this trust fund, and fund either fostering government ownership and accountability and supporting a transition from humanitarian intervention to a more development orient support from partners. To do so, it’s necessary to public institution capacity to deliver services while creating an enabling environment for including economic growth.”
Tomas Brundin, Head of the Embassy of Sweden’s office in South Sudan pointed out that the funds will help South Sudan’s government in the delivery of service.
“Our contribution to the multi-donor trust Fund of the World Bank is approximately 2.9 million dollars, and that represents serious efforts to help South Sudan to get to the right place. Mainly by enhancing government responsibility to service delivery about providing help, care, education and improving public financing capability and promoting progressing economic reforms,” Brundin pointed out.
For his part, World Bank Country Manager Firas Raad welcomed the contribution saying it is needed at a time when the country is moving from transitional status to permanent status.
He expressed gratitude to partners for their strong commitments to Multi-Donor Transition Trust Fund.
Activities of Multi-Donor Transition Trust Fund seeks to promote policy reforms, financial inclusion, private investment, and women’s economic empowerment among others.