The government has signed the request for a loan of $48 million US dollar from the African Development Bank in India, the Minister of Finance and Economic Planning has said.

Stephen Dhiew told the press upon his arrival on Monday that he signed a grant of 23 million US dollar to enable South Sudan to subscribe for membership to Trade Development Bank.

“We have signed a grant for 23 million US dollar, the protocol agreement to finance subscription to trade and development bank, as equity shares capital to enable South Sudan to subscribe for membership to Trade Development Bank – TDB,” said Dhiew.

The minister says with this membership, South Sudan will be in a position to access loan for trade financing and project funding.

Mr. Dhiew also says he signed a separate loan of 25 million US dollar to finance non-oil revenue mobilization and accountability in South Sudan.

“A loan agreement for 25 million US dollar also was signed for the situation in equity shareholding of African trade insurance agencies – ATI, under Eastern – Southern Africa trade and development bank – TDB, for the Republic of South Sudan membership program. The loan agreement is provided by the TST for financing non-oil revenue mobilization and accountability in South Sudan. ” Dhiew said.

The minister said the loan will also support the Juba power distribution system and rehabilitation extension project.

Stephen Dhiew returned into the country from the 2017 Annual Meeting of the African Development Bank Group that was held in India.