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UNDP, COOPERATIVE BANK SING DEAL TO BOOS RURAL FINANCING IN SOUTH SUDAN

The United Nations Development Programme (UNDP) and the Cooperative Bank of South Sudan on Friday signed a landmark agreement aimed at expanding financial services for farmers and rural enterprises, in what officials say is a major step toward transforming South Sudan’s agricultural economy.

The partnership is part of the seven-year Rural Enterprise and Agricultural Development (READ) project, a multi-donor initiative designed to improve credit access, strengthen cooperatives, and build financial literacy in seven counties. The project is supported by a $20 million grant from IFAD, alongside contributions from the Government of South Sudan ($1.4 million), Cooperative Bank ($1.8 million), UNDP ($1.4 million) and local communities ($700,000).

Speaking at the signing ceremony, Caroline Mwongera, IFAD Country Director, said the agreement marks

“a transformational step in strengthening South Sudan’s rural financial systems.” He said.

The project aims to reach 162,000 beneficiaries, including women (50%) and youth (70%), with the goal of improving productivity, market access, and community resilience.

Representing the Ministry of Agriculture, Evans Kenyi Solomon, Technical Adviser, said cooperatives will play a central role in driving rural growth.

“Youth and women empowerment is not a side agenda it is the engine that drives peace, prosperity, and resilience in this country,” he said,

calling cooperatives the bridge linking farmers to inputs, markets, and finance.

Cooperative Bank Managing Director Elijah Wamalwa said the deal crowns years of preparation.

“A journey of a thousand miles begins with one step,” he said.

The bank plans to expand rural credit schemes, roll out agency banking, and introduce a new mobile-based financial platform to reach remote communities.

“We want a future where a farmer in Nimule or Torit can access credit as easily as someone in Juba,” he added.

UNDP Deputy Representative Ligane Sene highlighted the project’s role in diversifying the oil-dependent economy and reducing food imports. He said cooperative groups can boost production through economies of scale and support South Sudan’s transition toward a cashless economy.

The READ project will operate in Aweil, Renk, Nzara, Yambio, Maridi, Terekeka, and Magwi.