The Minister of Finance has informed the council of minister that it intends to borrow 500 million dollars loan from the Afri-Exim Bank to fund the activities of the government.
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.
He said the loan will be paid back within four years.
“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.”
He emphasized the sum of money that will be borrowed will be used for infrastructure, salaries, agriculture and the basic needs of the people of South Sudan.