South Sudan joins African export-import bank

Mar 31, 2017

The nation which is the youngest sovereign nation in the world joined the trade finance multilateral institution as a participating state.

South Sudan has become the latest member of the African Export-Import Bank (Afreximbank). The nation which is the youngest sovereign nation in the world, joined the trade finance multilateral institution as a participating state. According to a statement issued by Afreximbank last Wednesday, the instrument of accession to the agreement establishing the bank in Sudan's capital was signed by the country's finance minister, Stephen Dhieu Dau. In the statement, the President of Afreximbank, Benedict Oramah said "as a qualified member, the world's youngest nation would now have access to the range of products and facilities offered by the bank. These products include trade, projects, trade information and advisory services, support in the development of a local content policy and assistance in developing industrial parks and special economic zones" he said. With the signing of the instrument, South Sudan is committed to fulfilling all required steps for the ratification of the agreement establishing the bank.