World bank's international development association, Bank

Juba, June 9 The World Bank said it has approved $129 million in grant financing to expand access to economic and livelihood opportunities for the most vulnerable households in South Sudan and strengthen the effectiveness of the national safety net system.The global lender said in a statement issued here that the International Development Association (IDA) grant includes $25 million from the IDA19 Window for Host Communities and Refugees (WHR), and $30 million from the Crisis Response Window (CRW), reports Xinhua news agency.Firas Raad, World Bank Country Manager for South Sudan, said that the new financing will help the government gradually establish a nationally owned safety net program."It will also help maintain a predictable and reliable national safety net system in the country and increase citizen confidence in national institutions," Raad said.He said the grant will finance the South Sudan Productive Safety Net for Socioeconomic Opportunities Project (SNSOP) which is a unique four-year operation that builds on the experiences of prior projects that helped lay the foundational building blocks of the safety net system in South Sudan.The SNSOP aims to consolidate and deepen the development gains achieved to date, provide access to direct income, and increase social and economic opportunities for the poorest and most vulnerable households.Josephine Joseph Lagu, South Sudan's Minister of Agriculture and Food Security, said enhancing social and economic opportunities for poor and vulnerable households will contribute to achieving longer-term development outcomes and build their resilience to climate impacts and other shocks."It will also make them potential drivers of economic growth, stability, and national transformation in South Sudan," Joseph said.According to the World Bank, recent external and economic shocks that include severe flooding, the Covid-19 pandemic, conflict, and macroeconomic instability have disproportionately impacted vulnerable households and deepened existing vulnerabilities in South Sudan.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

World Bank's International Development AssociationFOLLOW

World bank's international development association, Latest News

Lokmat News Network Aurangabad, July 13: Aurangabad division bench of Bombay High Court ordered to issue notices to the ... ...

Kiev, July 10 Ukraine will receive $1.7 billion in grant aid from international donors, Prime Minister Denys Shmyhal ... ...

New Delhi, June 28 The Enforcement Directorate (ED) on Tuesday took Pune-based businessman Avinash Bhosale into custody from ... ...

Amid controversy over the discrimination against pregnant women in joining service, Indian Bank on Monday said it has not made any changes to the existing guidelines and no female candidate has been denied employment. ...

Exorbitant amount collected every month Aurangabad, June 16: Banks are charging various service charges on the account holder rather ... ...

Srinagar, June 15 Terrorist involved in the killing of a bank manager in Kashmir was among two LeT ... ...

The World Bank said it has provided 385 million US dollars in International Development Association (IDA) financing to Horn of Africa countries to tap groundwater potential and boost climate resilience. ...

Juba, June 9 The World Bank said it has approved $129 million in grant financing to expand access ... ...