The Minister of Petroleum, Ezekiel Lol Gatkuoth, says the transitional government is making efforts to borrow 200 billion US dollars from investors to be used in development.

Mr Lol says First Vice President Taban Deng Gai met with investors in the United Arab Emirates recently on how to invest in the petroleum sector.

The minister says some investors pledged to support the government in developing the nation.

On arrival in Juba yesterday, Mr Lol says South Sudan has has a reserve of more than 70 billion barrels of crude oil against which money can be borrowed.

“Some people may say this is a crazy idea. Where are we going to get two hundred billion from? This is not a crazy idea just as the minister of petroleum we have a proven reserve of over 70 billion barrels,” he said.

“If you multiply these money with the current price this is over 200 and some billions dollars already you have this as cheque you can borrow money and you develop this country fast,” he added.

Mr Lol returned to Juba yesterday, together with the First Vice President after attending the UN General Assembly meeting in New York.