Sudan Microfinance Developement Facility
Sudan Microfinance Development Facility
The Sudanese Microfinance Development Facility is owned by the Central Bank of Sudan and the Ministry of Finance and National Economy. It has been established by the Donors’ Fund MDTF and the Central Bank of Sudan with a capital of 20 million dollars, and announced its establishment on the first week of October 2008. The goals behind establishing this facility are:
Developing collaboration and coordination on the demand side (commercial banks and Microfinance banks) through opening channels to provide services appropriate to the nature of the beneficiaries thereby advancing the level of the operative efficiency and working to reduce cost and expand outreach.
Offering wholesale financing and financial contributions to banking and non- banking institutions working in Microfinance in order to create an enabling and inviting infrastructure for the banking sector, the private sector investors and the donors.
In this respect and according to the annual plan of the Microfinance Unit of the Central Bank of Sudan for the year 2010, the unit introduced a program specified for the utilization of these resources through the following:
Offering financial and institutional assistance to enable banks to partially restructure by opening specialized outlets according to the policies and guidelines of the Central Bank of Sudan, whether by opening specialized branches or forming companies associated to the banks for the purpose of offering Microfinance services.
Offering wholesale finance for the branches and specialized companies according to the predetermined standards and conditions, in addition to the financial contributions and funds offered to the Microfinance specialized companies established by the banks under the licensing conditions of the Microfinance banks.
For more information click on www.smdf.sd