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


What do we expect from the final South Sudan Peace Talks? 2015-02-27 08:41:32 By Luka Biong Deng As the alleged final and last round of peace talks on South Sudan commenced in Addis Ababa, the people of South Sudan attach little hope and expect nothing as they have been (...)

The Berlin Meeting: What’s at stake? 2015-02-25 11:33:06 By the Sudan Democracy First Group (SDFG) Between 25 and 27 February, Berlin will become the hub for the Sudanese unarmed and armed opposition, invited by the German Foreign Ministry and the (...)

Can a democratic government extend its own life? 2015-02-23 07:32:25 By Dr Lam Akol Last Thursday, the government tabled before parliament an amendment bill in order to amend the Constitution for the Government to extend its life for two more years. In a (...)


MORE








Latest Press Releases


Archbishop Taban calls for reconciliation and forgiveness 2015-02-23 09:30:38 February 2015 Greetings from Peace Village, Kuron. It is really a Peace Village. I had my peaceful Christmas and a Prosperous New Year in Kuron. God really blessed the area with Peace. You can (...)

WFP appreciates US additional support for S. Sudan’s hungry 2015-02-19 08:20:15 17 February 2015 (JUBA)- The United Nations World Food Programme (WFP) has welcomed a contribution of US$165.5 million from the United States Agency for International Development (USAID) to feed (...)

Press Release from the SPLM/A (IO) in Uganda 2015-02-11 09:39:09 February 10, 2015 1. The office of the SPLM/A (IO) and the presence of its diplomatic representation that was established under the Kampala outcome of the 21st August 2014 is operational and has (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.