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.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Open letter to UN secretary-general 2015-09-01 09:11:28 To Secretary General Ban Ki-­moon Secretary-­General of the United Nations Dear Mr. Ban, Tuesday, 1st September 2015 To the military parade in Beijing on September 3rd you have been invited as (...)

Bashir`s dialogue is nothing but adding insult and injury on Sudan`s crises 2015-09-01 09:03:05 By Mahmoud A. Suleiman It comes as no surprise that the NCP regime President Omer al-Bashir using his fake 'national' dialogue again after apparently felt rest assured that he has recently (...)

The perilous change in Darfur’s demography 2015-08-28 08:10:36 By Eric Reeves The debate about whether or not Darfur was the site of genocide long ago flamed out, largely because the issue became excessively politicized and the world—in general—no longer (...)


MORE






Latest Press Releases


Resolutions and recommendations of the SPLM-N leadership meeting 2015-08-11 22:21:18 SUDAN PEOPLES’ LIBERATION MOVEMENT NORTH Leadership Meeting of the Sudan People’s Liberation Movement- North ( SPLM-N) Final Communique: Resolutions and Recommendations August 6th, 2015 The (...)

Sudanese, human rights groups and advocates demand renewal of UNAMID 2015-06-25 06:03:32 FOR IMMEDIATE RELEASE CONTACT: New York: Ahmed H.Adam, Tel. +1 347 567 1491 or aha64@cornell.edu Kampala: Abdelrahman Gasim, Tel. +256 7 51 90 77 77 or gasim202000@gmail.com Geneva: Abdelbagi (...)

Civil society groups urge to stop hostilities in W. Bahr El Ghazal 2015-06-11 22:24:37 Urgent action for sustainable peace in Western Bahr El Ghazal State Civil Society Statement: June 10, 2015 Wau –Western Bahr El Ghazal State- The Republic of South Sudan We, civil society (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.