Making Microfinance work for Youth in Sudan- Microfinance Unit Central Bank of Sudan and UNDP
Khartoum, May 1, 2012 – Today the Central Bank of Sudan Microfinance Unit endorsed the recommendations proposed by United Nations Development Programme sponsored study on Making Microfinance policies in Sudan to serve the needs of young females and males between ages of 15-30 Years for “Youth Financial Inclusion Policy Reform”.
adopted Microfinance as one of the tools to support poverty alleviation,
create job opportunities and access to finance for small businesses among
economically active youth. As the lead agency in supporting Sudan Poverty
Reduction efforts and creating job opportunities for youth, UNDP lead
a study to assess the Microfinance policies inclusiveness for youth.
“One of the key recommendation of the study that may shape the future of Microfinance in Sudan is how to make financial and non-financial services complement each other in a youth friendly approach”, Dr. Bader Eldin Abdel Rahim, Director of Micro Finance Unit, stated during the endorsement of the key recommendation of the study.
“The study and recommendations endorsed serve as one of the key milestones to improve microfinance access to young girls and boys in rural and remote areas of Sudan. This in turn will result to youth to youth empowerment and contribute to economic and social stability in Sudan”, stated Mr. Sayed Aqa, UNDP Country Director.
Microfinance Institution General Manager Representative Mr. Haider Hussein
stated “we welcome the efforts of UNDP and the Microfinance Unit
and urge similar studies to be conducted in different states of Sudan,
the study findings and key recommendation are crucial for establishment
of appropriate legal framework for Youth Microfinance Institutions”
highly appreciate our partnership with UNDP in this important undertaking
leading to poverty reduction and affirm our commitment to implement the
recommended policy reforms in a short timeframe.” Said Mr. Rahim
Director of Micro Finance Unit.
UNDP is the UN’s global development network, advocating for change
and connecting countries to knowledge, experience and resources to help
people build a better life.