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Bank approves41,668,800MSSP foragriculture

By Wek Atak Kacjang

The Agricultural Bank of South Sudan has approved (41,668,800) million South Sudanese pounds budget for 2020/21 fiscal yearto agricultural sector in the country.

Speaking to media yesterday, the Agricultural Bank Chairman, and Vice Chancellor of Upper Nile University Dr.Marial Awou Yol said the members of Agriculture Bank contributedpositively and we hope the Agricultural Bank will perform respectively in the coming agricultural season in the country.

“The proposal budget for year 2020-2021was 41, 668,800 million South Sudanese pounds as increment by our 60% percent to improve performanceof the bank. We are hoping to improve the condition of staff in the bank despite the problem of Covid-19,”Yol said.

He added that Agricultural Bank is going to expandand is going to open in some States towns like Torit, Aweil, Yambio, Rumbek and Bor.

However, the Agricultural Bank Managing Director, RualMakueiThiangTheen said the main issue for the budget was to procure agricultural machinery so that the farmers will be ready to cultivate.

“The bankis trying to work on projects that will mitigate the negative impact of the coronaviruspandemic. To acquire government shareholding as paid up capital which was allocated in the budget for the fiscal year 2019-2020, which is equivalent  to 15 M USD only,”Theen said.

He added that lack of capitalization is a hindering factor in the bank’s activities. The Bank is unable to access the amount of 15M only or its equivalent in SSP allocated to the Bank in the fiscal year 2019-2020.

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