The United Nations Development Programme (UNDP) and Co-operative Bank of South Sudan have signed a $1.8 million deal to support farmers and rural businesses in South Sudan. This agreement is part of the Rural Enterprise for Agriculture Development (READ) project, a seven-year program aimed at reaching 162,000 beneficiaries.
*Key Aspects of the Deal:*
– *Funding:* The READ project is backed by a $20 million grant from the International Fund for Agricultural Development (IFAD), with additional contributions from the South Sudan government ($1.4 million), Co-operative Bank ($1.8 million), UNDP ($1.4 million), and local communities ($700,000), totaling $25.3 million.
– *Objective:* The project aims to expand financial services to farmers and rural households, promote growth, and strengthen rural institutions.
– *Target Areas:* The partnership will focus on seven counties: Aweil, Magwi, Maridi, Nzara, Yambio, Renk, and Terekeka.
– *Benefits:* The project will provide:
– *Financial Services:* Expand credit and financial literacy.
– *Agricultural Support:* Strengthen agricultural co-operatives and introduce tailored financial products.
– *Institutional Strengthening:* Upgrade small and micro-enterprises, village savings and loan associations, and enhance financial literacy and business skills.
*Background:*
South Sudan faces significant food insecurity, with:
– *57% of the population* facing high levels of acute food insecurity.
– *2.3 million children* malnourished.
– *18% of the population* experiencing “emergency” levels of acute food insecurity.
This partnership aims to address these challenges and support vulnerable populations in South Sudan ¹.
