The United Nations Development Programme (UNDP) and the Cooperative Bank of South Sudan have signed a landmark agreement in Juba to expand access to financial services for farmers and rural enterprises, a move officials say could significantly transform the country’s agricultural economy.
The partnership falls under the multi-donor Rural Enterprise and Agricultural Development (READ) project and will focus on expanding credit access, improving financial literacy, and strengthening agricultural cooperatives across seven counties.
“This agreement represents a transformational step in strengthening South Sudan’s rural financial systems,” said Caroline Mwongera, Country Director for the UN’s International Fund for Agricultural Development (IFAD), which is overseeing a major grant for the initiative. She spoke during Friday’s signing ceremony.
The seven-year READ project is backed by a $20 million IFAD grant, with additional funding from the Government of South Sudan ($1.4 million), Cooperative Bank ($1.8 million), UNDP ($1.4 million), and local communities ($700,000).
Mwongera said the project aims to reach about 162,000 beneficiaries—half of them women and 70% youth.
Evans Kenyi Solomon, a technical adviser at the Ministry of Agriculture, said the program places cooperatives at the center of rural development efforts.
“Youth and women empowerment is not a side agenda,” Solomon said. “It is the engine that drives peace, prosperity, and resilience in this country.” He added that cooperatives serve as “the bridge that connects farmers to inputs, markets, and finance.”
Cooperative Bank Managing Director Elijah Wamalwa said the partnership marks the culmination of years of planning.
“A journey of a thousand miles begins with one step,” he said. “Today marks that step because we have finally agreed to walk this journey together.”
Wamalwa said the bank’s focus will be expanding credit and financial services to rural communities. “We want a future where a farmer in Nimule or Torit can access credit as easily as someone in Juba,” he noted, adding that the bank plans to grow its agency banking network and develop a mobile-based financial platform.
UNDP Deputy Representative and Senior Economist Ligane Sene said the project comes at a critical moment as the country works to diversify its oil-dependent economy and address persistent challenges like low crop productivity and weak market linkages.
“When farmers work in groups, they gain the power of scale,” Sene said. “That is how we move from food imports to food self-sufficiency.”
He added that the project could also support South Sudan’s transition toward a cashless economy, bolstered by the new national payment framework.
The project will be implemented in Aweil, Renk, Nzara, Yambio, Maridi, Terekeka, and Magwi counties.