Home | News    Tuesday 11 December 2007

South Sudan launches microfinance development facility

separation
increase
decrease
separation
separation

December 10, 2007 (JUBA) – The availability of business funding in Southern Sudan have been boosted with the launch of the Microfinance Development Facility by the Bank of Southern Sudan (BoSS) on Monday December 10, 2007 in Juba. It plans to award a total of US$1,000,000 to microfinance providers in the first quarter of 2008.

JPEG - 14.9 kb
Director of Public Sector Development,
Ministry of Commerce, Ms Mary Akech Taban

The facility is supported by the World Bank administered Multi-Donor Trust Fund (MDTF) within the framework of the Private Sector Development Project (PSD).

The applicants will be evaluated on the basis of among other factors good governance, well defined quality strategy, good business plans and the ability to build the capacity of the microfinance clientele.

In selecting the awardees, the BoSS will also take into account the outreach to underserved population particularly the youth, women ex-combatants and underserved States.

Another competition designed to catalyze awareness of entrepreneurship and promote business innovation is shortly to take place. The plan offers opportunity for Southern Sudanese entrepreneurs to compete for start-up grants of $15,000. Each year 20 such grants will be awarded to the top applicants.

The Acting Manager of the World Bank Juba Sub-Office, Fred Yankey, recognized the huge development challenges facing Southern Sudan. “But it is pleasing to note that Southern Sudan has also a huge potential of becoming a strong economy where people can have access to a myriad of goods and services like the one we are launching today” he commented.

The BoSS representative Othom Rogo Ajak said the microfinance facility will be an important instrument in bridging the gap between the poor and the rich.

The representative of the Ministry of Finance and Economic Planning, Kun Ding underlined the importance of good management of the Microfinance Development Facility if it is to benefit the people of Southern Sudan .

Explaining the background to the project, the Director of the Public Sector Development in the Ministry of Commerce, Trade and Supply Mary Akech Taban said the PSD project was initiated 23 months ago and it had since progressed steadily with the technical support of the World Bank.

The World Bank Task Team Leader of the project Mr. Magdi Amin commended the commitment of the Ministry of Commerce
Trade and Supply and indeed the entire Government of Southern Sudan for striving to extend services to the people. He said this project would give opportunities for the people to raise dignified families.

The development of the private sector is enshrined in the Interim Constitution of Southern Sudan which states that “all levels of government in Southern Sudan shall facilitate the development of the private sector, particularly indigenous entrepreneurs to establish and develop a viable private sector capable of participating effectively in reconstruction and development of Southern Sudan.”

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Sudanese have become prey of mercenaries and Janjawid militias 2018-09-17 09:59:30 By Mahmoud A. Suleiman The Janjaweed bandits have been raging in the land of Darfur in particular and Sudan in general with corruption, havoc and destruction, more than a decade on. The (...)

Khartoum’s peace agreement: A looming disaster 2018-09-15 07:42:34 By Duop Chak Wuol Throughout the South Sudanese peace process, the Sudan People’s Liberation Movement-In Opposition (SPLM-IO) has been faced with serious political issues. These issues make it (...)

South Sudan troubled history in the backdrop of the ongoing peace process 2018-09-09 19:11:03 By Deng Vanang The role of history in politics and everyday life including medicine, tells us how problems start and why they continuously repeat themselves if not attended to correctly, (...)


MORE






Latest Press Releases


Unity State community in Kenya supports Khartoum peace agreement 2018-08-17 08:33:21 PRESS STATMENT 14th Aug, 2018 Re: We shall Rally behind Khartoum Peace Agreement The Unity State Community Association in Kenya was established in 2010 to organize and mobilize the people of (...)

The Suspension of Hurriyat Online Newspaper 2018-04-29 07:04:37 Sudan Democracy First Group 28 April 2018 The Sudanese civil and political circles and those concerned with Sudan were shocked by the news that the management of Hurriyat online newspaper has (...)

Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan 2018-04-22 10:01:20 UN Secretary-General, New York African Union Commission, Addis Ababa UN High Commissioner for Human Rights, Geneva Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.