Agricultural Bank of Sudan to provide rural microfinance

May 16, 2011

The Agricultural Bank of Sudan is to invest 10 billion Sudanese pounds (€2.6 billion) in a microfinance initiative targeted at families living in the Kordofan area of the country.

Announcing the initiative, Acting Director of the Kordofan sector at the bank Mammon Suleiman Taha said the scheme will be accessed by as many as 55,000 families, the Sudan News Agency (Suna) reports.

Those living in rural areas in Lagawa, Omruwaba and Abu Zabad will be the main beneficiaries and Mr Taha said the aim of the move is to improve the economic and social standing of individuals.

The scheme is being run in partnership with the Central Bank of Sudan and the Resource Program of the Western Kordofan, with the latter body providing fixed assets and technical support for the initiative.

Agricultural finance for farmers in Sudan's rural areas is set to be on the agenda at the Khartoum International Fair, which gets underway today (May 16th) and will feature a workshop discussing the challenges relating to providing microfinance to the farming industry, according to the Sudan Vision.