South Sudan seeks nearly $2 billion loan from China
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August 9, 2016 (JUBA) - South Sudanese government said Tuesday it is
seeking nearly $2 billion United States dollars new loans from China
to carry out various projects and proposes to set up a joint venture
with Chinese companies to develop key infrastructures in the country.
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U.S. Dollar bill
South Sudan foreign affairs and international cooperation minister
Deng Alor Kuol said on Tuesday that he had met key officials of the
China Development Bank and the Export and Import Bank of China in
Beijing during his recent visit.
Kuol described the talks with Chinese authorities and companies with
funds to help implement the identified projects should Chinese
government approve the request as fruitful and cordial.
He added that the government had sought financial co-operation to
implement several projects in the pipeline.
“They are prepared to support us,” said Kuol when asked whether any
fresh loan arrangement was sought. “We have outlined the projects and
have requested China’s support on funding.”
The minister, however, clarified that nothing had been finalized yet
and they had a priority list in this regard. The top foreign official
said some companies have expressed interest to invest in the proposed
Economic Zone and that joint ventures had been proposed between the
two sides to work out how they could expedite the process.
He said the Chinese side was expected to submit their proposals for
development of key infrastructures with Chinese investors having a say
in its operation.
He revealed the government had requested $1.9 billion from the Chinese
government to develop oil fields and infrastructure projects. Part of
the funds could be used to reopen key oil fields in Unity state that
has been shut down since a civil war began in December 2013.
$700 million would be used to rebuild a road between Juba, the
capital, and Wau, which saw heavy fighting last month.
The request comes as the country has an economic crisis and is
struggling to pay civil servants. The government said this week that
the inflation rate in the country has reached 600 percent for the past
one year.
South Sudan inherited China investment oil exploration at independence
from Sudan in 2011.
The fledgling nation economy has been under stress following fall in
global oil price and the ongoing war pitting President Salva Kiir
against Riek Machar’s armed SPLM-IO that led to closure of oilfields
in Unity and Upper Nile states.
(ST)
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10 August 02:21, by jur_likang_a_ likan’g
The government in Juba do not deserve this. Until the war comes to
a complete halt and a system which is acceptable by the citizens is in
power then it is worth considering the demand of those in power. Do
not let the corrupt get hold on this money. They do not understand the
suffering of South Sudanese.
repondre message
10 August 04:32, by Force 1
Ya Jur’
What you’re capable of doing is write nonsense online; but
what the government is doing; you don’t have any control over it.
South Sudan have massive oil assets that $ 2 billion is nothing; China
is going to lend it them easily. If you have any control over the
government decision to borrow that money; then you’re free to go and
stop them but I doubt it that you can.
repondre message
10 August 05:17, by Akook
The day Juba is given, South Sudan will engulf in war all
over. They are now crippled by lack of funds to execute more wars and
worried about the uncertainty that will come with the absence of war.
China must sponsoring our death as they have done all
these years supporting Khartoum to killed us through our oil.
China please stop it until we have permanent peace to
qualify for your loan!!!!!!
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