Sudan: North Kordofan, CBOS Discuss Microfinance Projects

- A joint meeting between the North Kordofan State Government and the Central Bank of Sudan (CBOS) discussed mechanisms to advance microfinance projects aimed at supporting youth, women, graduates, and entrepreneurs, as part of broader efforts to stimulate economic recovery in the state.

North Kordofan Wali Abdel-Khalig Abdel-Latif affirmed the state government's support for microfinance initiatives, citing their role in improving livelihoods, reducing poverty, and creating income-generating opportunities. He said the state is ready to provide the necessary facilitation to ensure the success of productive and service-oriented projects.

The meeting, attended by State Minister of Finance, Economy and Manpower Elhadi Nassir, also reviewed ways to enhance coordination between the state government and the Central Bank to expand the reach of microfinance programs.

The CBOS Director of the Microfinance Unit Mua'tasim Mahdi said the bank's policy focuses on financing small-scale projects alongside training, capacity-building, and business development programs. He noted that the initiative includes the establishment of business centres and incubators to help transform ideas into sustainable, market-ready projects.

Mahdi added that several microfinance projects are set to be implemented in North Kordofan in the coming period, expressing confidence that they will deliver tangible benefits to local communities and contribute to economic revitalization and reconstruction efforts.

Read the original article on SNA.

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