World Bank launch micro-finance programme
Sudan , September, 28 2006 -
The Central Bank of Sudan on Tuesday launched a 50 million US dollar micro-finance programme to improve the living standard of the poor but productive population segments living in the periphery of the economy.
The programme is jointly promoted by the Central Bank of Sudan and the World Bank to finance small project planned to substantially reduce poverty in the country, officials said here.
The announcement came at a conference attended by nearly 750 participants and a national consultancy firm (UNICONS) commissioned by central Bank.
The firm unveiled a projection for the promotion of the micro-finance sector based on the outcome of specialised workshops and professional working groups.
The projection included proposals to create a framework for supportive policies and legislation, together with revision of existing regulations; diversification of the scope of services and facilities of micro-finance; to establish a specialised department within the central bank for micro-finance; to select alternate options for traditional guarantees of loans; to enhance capacity building at the level of micro-finance institutions; and to establish a support infrastructure.
The move was widely welcomed and favourably received by participants who expressed the wish to see the process remain purely professional; procedures simplified and transparent management applied.
Representatives from Egypt and Bangladesh attending the conference briefed a session on experiences of their respective countries in poverty alleviation.
Foreign observers were impressed with the initiative taken by Central Bank of Sudan and said it would enhance the attainment of the Millennium Development Goals (MDGs).