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Taha: Micro Financing is an Important Project for Combating Poverty and Providing Society Needs
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Dec 30, 2008 - 10:28:42 PM
Taha: Micro Financing is an Important Project for Combating Poverty and Providing Society Needs
Khartoum, Dec. 30 (SUNA)- Vice - President of the Republic, Ali Osman Mohamed Taha, pointed out the state and its legislative organs regard the micro financing as one of the important projects for combating poverty and motivating the society toward meeting its basic needs. In his address at the inaugural sitting of the Workshop on Micro Financing, Taha said that the micro financing is an effective means to combat poverty, indicating that the proper arrangement for micro financing puts the banking system to in the track first steps to support the society. The workshop is organized by the Ministry of Social Welfare and Women and Children Affairs in collaboration with the Bank of Sudan at Martyr Al-Zubair Centre. He said that the micro finance is based on the ideas of easy financing and guarantees, collective work and gives regard to the moral dimension. Taha called for determining the sectors targeted by the micro financing and ways for supporting, funding and qualifying them in the field that they choose for establishing micro financing projects. The Minister of Social Welfare and Women and Children Affairs, Ustaza Samiya Ahmed Mohamed, said that the micro financing would be effective means to combat poverty, affirming that the state is giving top priority to the issue of combating poverty. She referred to the efforts exerted by the Ministry of Social Welfare and Women and Children Affairs and the institutions affiliated to it in the fields of health, education, basic infrastructures and the finance for small-scale and rural areas projects. Meanwhile, the Governor of the Bank of Sudan, Dr, Sabir Mohamed Al-Hassan, said that the funding policy of the Bank of Sudan for the year 2009 has provided ample opportunity for implementation of the micro financing system. He said that the Central Bank tended to reduce the financing cost for the beneficiaries from the micro financing to 10%, referring to other facilities which are given by the Ministry of Finance to the agent who is committed to the repayment in the fixed times. Dr. Al-Hassan indicated that the Bank of Sudan has benefited from the expertise of an international company for qualification of the employees working with banks in the field of micro financing, capacity building for the beneficiaries from the project, adding that the Bank of Sudan will resume the training for the cadres operating the micro financing field. He said that the Bank of Sudan introduced other non conventional guarantees that cope with the micro financing after conducting practical studies at different areas in Sudan and issued a circular in this regard. He asserted the concern of the Bank of Sudan and the banks with the funding for projects of social dimension, including the provision of a micro financing package. Dr. Al-Hassan said that the micro financing includes also the issues of electricity in the states, the economic housing projects, providing drinking water and increasing the funding for the traditional cultivation. MO/MO
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