Sudan Central Bank Signs Six Agreements on Microfinance

Khartoum - The Central Bank of Sudan (CBOS) signed yesterday in its premises six agreements with the Institutions of Microfinance with sum of $19million as direct funding through the lucrative speculation for three years from the Islamic Development Bank in Jeddah.
 
Dr. Alzubair Mohammed Khair the Governor of the CBS said this funding is the commencing for funding other institutions who are working in the field of the microfinance.

Alzubair added that, we are mainly relying on implementing these agreements, to confirm that this sums went to the targeted categories, and to take its turns to other institutions.
 
Khair affirmed that the CBS depend on the institutions of microfinance, to make success of such projects

Dr. Alzubair emphasizes that the bank and the other international institutions will offer funding to the institutions that work in the field of microfinance so as to take lead in the State plans.

He elaborated that the State adopted a mechanism for eradicating and hindering poverty.

Alzubair said the task of the bank is to provide the resources, but the great challenge, is the possibility of handing over of the resources to the targeted group, and to shift them to productive projects.

He promised that the bank will collaborate with State of Khartoum in the field of microfinance projects.

On his part Khartoum governor appreciated the role that played by CBS regarding the microfinance projects which consider as one of the mechanisms of poverty eradication, confirming that the CBS will turns the issue of microfinance to a tangible fact.

In the same context, Bareldin Abdelrahim the Director of Microfinance Unit in the CBS confirmed that, this agreement came after study since 2011 and the microfinance funding will not stop in at point but it will go farther to other institutions.

It's worth mentioning that, the microfinance including 6 as follow:


1- Social Development Institution Khartoum State $4million

2- Gizera Institution for microfinance$4million
 
3- Development Institution Kassal State $3million

4- Baraiah Society to the villages of Rashad area South Kordofan State $1.5 million

5- Alshabab Institution for microfinance $4million

6- Alanaam Institution for microfinance Khartoum State$1.5 million