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


Why, more than ever, UN Peacekeeping needs global support 2015-05-29 19:51:06 By Hervé Ladsous Eighteen months ago, Bentiu, like most towns in South Sudan, was bustling with the restlessness of markets, people trading and children going to school. UNMISS, the UN Mission in (...)

Blue Nile State: Under Fire 2015-05-28 15:15:54 By Sudan Democracy First Group Before Al Gareeda newspaper was indefinitely suspended by the National Intelligence and Security Services (NISS), as part of a mass censorship of Khartoum (...)

Somaliland’s return to authoritarianism 2015-05-28 06:33:47 By Abdirahman Mohamed Dirye Multiparty politics were introduced in Somaliland a decade and half ago following collective effort to ease power conflict and enhance accountability. Somaliland (...)


MORE






Latest Press Releases


Launch of new nutritional project to support hard-hit older persons in South Sudan 2015-05-27 09:01:33 HelpAge International For immediate Release Nairobi/Juba, Tuesday May 26, 2015: HelpAge International and its partner, the Islamic Relief will on Wednesday, May 27th, 2015launch a three year (...)

European Union helps treat malnutrition in Sudan 2015-05-25 06:49:48 WFP Press Release European Union helps treat malnutrition among Sudan’s most vulnerable 24 May 2015 KHARTOUM - The United Nations World Food Programme (WFP) today welcomed a contribution of €9 (...)

HRW calls to stop arbitrary detention in Sudan 2015-04-30 21:53:00 Sudan: Surge in Detention, Beatings, Around Elections Free Those Held Arbitrarily; Investigate Abuses (Nairobi, April 29, 2015) – Security forces in Sudan<https://www.hrw.org/africa/sudan> (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.