Bank of Southern Sudan Launches Microfinance Development Facility
Sudan Tribune

The Bank of Southern Sudan (BoSS) has launched a Microfinance Development Facility to increase the availability of business funding in the region. It plans to award a total of US$1 million to microfinance providers in the first quarter of 2008. The facility is supported by the World Bank-administered Multi-Donor Trust Fund (MDTF), within the framework of the Private Sector Development Project (PSD).

BoSS will evaluate the applicants on the basis of factors such as governance, well-defined strategy, business plans and the ability to build the capacity of the microfinance clientele. In selecting the awardees, it will also take into account outreach to underserved populations, particularly youth, women ex-combatants, and underserved States.

The development of the private sector is endorsed 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."

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Related news on Southern Sudan:
Christian NGOs Fund Microcredit Program in Southern Sudan ( 4 Dec 2007)

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