Nairobi, Kenya, 9 May 2023 – From 1st to 5th May 2023, the African Legal Support Facility (ALSF) provided training on Understanding and Managing Sovereign Debt for South Sudanese government officials as part of its ongoing support to the country.
With the objective of enhancing South Sudan’s government officials' legal and technical capacities and improving their expertise in sovereign finance, from 1st to 5th May 2023, the ALSF brought together 16 government officials in a five-day workshop in Nairobi, Kenya. The participants received practical training on the legal framework applicable to sovereign debt, the main documentation and key provisions of bonds and facility agreements and on contingent liabilities and state-contingent instruments. The workshop was facilitated by the ALSF in collaboration with external advisors, Baker McKenzie, Pari Passu Consulting and Anyang, Anyaar & Partners.
Officially opening the workshop, Hon. Agok MAKUR KUR, Deputy Minister of Finance and Planning and Head of the Loan Committee, highlighted the “importance of this training on sovereign debt management in the light of the ongoing Government’s efforts of developing a long-term strategy for effective debt management”. Also speaking at the official opening ceremony, Ms. Nnenna NWABUFO, Director General of the East African Hub of the African Development Bank, highlighted that this workshop was being provided as part of the “ALSF capacity building assistance to the Government of South Sudan, which comprises the review and analysis of the applicable legal framework; the on-going capacity-building workshops; and the assistance in defining a debt-incurring strategy”. Representing the ALSF, Ms Nelly NGUEGAN, Capacity Building Coordinator, added that “the ALSF is proud to accompany the Government of South Sudan in this capacity building Project in the sovereign finance sector. The ALSF was established precisely to address the asymmetric capacity between African governments and other parties in litigations and negotiations”.
Approximately sixteen government officials from various Ministries, Departments and Agencies (MDAs) participated in the training, including staff members of the Ministry of Justice and Constitutional Affairs, the Ministry of Petroleum, the Central Bank of South Sudan and the Ministry of Finance and Planning. The sovereign finance sector in South Sudan is a strategic component of the economy, and the ability of MDAs to effectively manage sovereign debt will play a vital role in sustainable development in the country.
About the ALSF
Hosted by the African Development Bank since 2008, the ALSF assists African governments in negotiating complex commercial transactions, providing legal and technical assistance and developing capacity building tools in the key sectors of infrastructure and public-private partnerships, energy, natural resources, extractive industries and sovereign finance.
Eve Ehoura, Communication Officer : email@example.com
Nelly Farah Nguegan, Capacity Building Coordinator: firstname.lastname@example.org
ALSF Website : https://www.alsf.int
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