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


Call for the release of S. Sudanese arbitrarily detained by national security services in Juba 2016-12-07 07:54:53 By Bangasi Joseph Bakosoro On 22 December 2015, at around 12pm, I received a call from the National Security Service (NSS) summoning me to their headquarters for a meeting. I drove to the office (...)

Holding accountable those enabling genocide in Sudan 2016-12-05 05:30:49 Eric Reeves As grim genocide by attrition in Darfur is set to enter its fifteenth year, as Khartoum’s claim of a purely nominal “cease-fire” in South Kordofan is belied by repeated reports of Sudan (...)

Sudan’s Civil Disobedience, a model for political change 2016-12-04 05:23:21 by Mahmoud A. Suleiman According to Gene Sharp of Albert Einstein Institution in his masterpiece book from Dictatorship to Democracy, he quoted Civil Disobedience among the 198 Methods of (...)


MORE






Latest Press Releases


Conspiracy, rumour mongering and power struggle behind alleged case of corruption in president’s office 2016-12-05 05:36:45 FOR IMMEDIATE RELEASE 4 December, 2016 Legal Watch Associates South Sudan has been following up the alleged case of corruption in the Office of the Pesident. The case involved 16 people from (...)

Amnesty urges to investigate chemical weapons Sudan’s Jebel Marra 2016-10-12 12:52:01 Sudan: International chemical weapons investigation urgently needed into horrific Jebel Marra attacksAMNESTY INTERNATIONAL NEWSFLASH 11 October 2016 Sudan: International chemical weapons (...)

UNAMID JSR’s statement read to the media on peace in Darfur 2016-10-10 20:57:56 African Union United Nations Mission in Darfur Though the region of Darfur is relatively peaceful at this time, a small portion of Jebel Marra within Darfur continues to be intermittently (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.