South Sudan, the world's newest nation, joined the World Bank and the International Monetary Fund on Wednesday, the sister institutions said.
South Sudan, which gained independence from Sudan last July after two decades of war, became the 188th member of the Washington-based institutions, as it struggles with renewed clashes with Sudan.
Finance Kosti Manibe Ngai signed the agreement papers with the IMF and the World Bank, capping South Sudan's bid for membership begun in April 2011.
IMF chief Christine Lagarde welcomed South Sudan to the fund, saying "the IMF will do its best to assist the country in setting up the foundations for economic stability and growth in the period ahead."
The IMF is participating in a dedicated $11 million trust fund in support of South Sudan over the next four years.
"The European Union plans to come on board as a lead donor," the fund said in a statement.
The World Bank also hailed South Sudan's membership, calling the impoverished country a "test case" on the development lender's principles for state building by citizens with the support of international development partners.
"I am very pleased to welcome South Sudan, the world's newest country as our newest member of the World Bank Group, to help it manage and resolve its many formidable development challenges while it also builds a broad national coalition to secure lasting peace and prosperity," said Obiageli Ezekwesili, the band's vice president for Africa.
She also pledged the bank would support the fight against corruption, promote accountability and good governance, and work closely with South Sudan and its communities "for better social and economic development."
South Sudan's entry into the two multilateral financial institutions comes amid clashes along the oil-rich border with Sudan that observers fear may escalate into all-out war.
Clashes broke out last month in the Heglig area and escalated last week with waves of aerial bombardment hitting the South and South Sudan's seizure of Heglig on April 10.
The United Nations, the United States and the European Union have criticized the South's occupation of Heglig, the north's most important oil field, equally denouncing Sudanese air strikes against the South.
The UN Security Council on Tuesday discussed possible sanctions against Sudan and South Sudan.
The two Sudans are locked "in a logic of war" with hardliners controlling both countries, international peace envoys told the council.
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