25th October 2020
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Afreximbank loan may ‘end up in people’s pockets’ -Activist

Author: Garang Abraham | Published: Saturday, October 3, 2020

Jame Kolok. File Photo/ Okot Emmanuel/Eye Radio.

An activist is advising the government to fix its corruption monitoring systems if the recent loan approved by AFRI-EXIM bank is to improve the feeble economy.

Last week, the cabinet approved a loan of $250 million from African Export-Import Bank.

During an extraordinary cabinet meeting on Monday, the Minister of Finance, Athian Diing Athian briefed the cabinet that the pan-African multilateral trade finance institution had approved the loan, and added another $63 million.

The raise brings the total amount to $313 million to be borrowed for fixing the crumbling economy.

Activist, Jame Kolong, however, holds that such loan may not serve the intended purpose if the underlying human causes of economic manipulation are not addressed.

“Now, if we are borrowing loans without fixing some of these concerns especially concerns that have to do with the issue of systems, then the loan might actually end up in this disorganized system,” he asserted.

“…it will end up in the pockets of some people.”

The Executive Director of the Foundation for Democracy and Accountable Governance maintained that punishing corrupt individuals should be prioritized in efforts to address the economy.

“The economic decline is attributed to conflicts and it is attributed to corruption and lack of systems,” he argued.

But Information Minister – Michael Makuei in a recent media briefing issued a contradicting statement, announcing that the loan would be used to pay debts, among others.

Mr. Kolok in the same breath urged the government to prioritize investing in income-generating projects such as agriculture to generate funds that will be used to pay back the loan.

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