25 January 2013

South Sudan: NLA Passes Agricultural Bank Act

press release

Juba — The National Legislative Assembly (NLA) in its extraordinary session on Monday, unanimously passed the Agricultural Bank Act of 2013 in its fourth reading.

Professor Paul Logale, the chairperson of the Economic and Financial Development Committee in the National Legislative Assembly said this Act is very important and will help boost agricultural development.

One of the representatives in the National Legislative Assembly, Hon. Akol Kur proposed that the person to run the bank must be qualified scientifically to handle its management. Minority leader in the National Legislative Assembly, Hon. Onyoti Adigo said he considered the Act as essential and said it will help the farmers to access financial support that will contribute to agricultural development. He suggested that the states to be represented in the board of the bank.

On her part, Rose Adau Deng, warned that this Act should not be used to further personal interests but for the interest of the farmers to improve their agricultural projects. She appealed that bank should be insulated from "the chaos happening in the commercial banks". She emphasized that agriculture is the actual backbone of the economy, not petroleum.

The Act states that the agricultural bank will provide financial and technical support for the agricultural sector to ensure food security in the country.

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