A Vision for the Development and Expansion of the Microfinance Sector in Sudan

This document presents details of a project called, "The Formulation of a Vision for the Development and Expansion of the Microfinance Sector in Sudan"? that the "Central Bank of Sudan" (CBS) commissioned in recognition of the role that microfinance can play in the economic development of the country. The document presents the following project details:

• Stakeholders: CBS staff, government officials, bank employees, microfinance practitioners, non-government organizations (NGOs), community-based organizations (CBOs) and international donors.
• Aim of the strategy: to facilitate access to financial services for the economically active poor in rural, semi-rural and urban areas by expanding the microfinance sector in a cost-effective, gender-sensitive and sustainable manner.
• Objective of the vision: to develop a framework for effective policies that supports the delivery of a diverse range of financial services that are easily available, reasonably priced and client responsive.

The vision develops a framework and recommendations that translate into a comprehensive action plan that sets out specific actions with time frames for implementation in the short, medium and long term. These include:

• Creating a conducive legal and policy framework;
• Enhancing the role and supporting the growth of microfinance institutions (MFIs);
• Establishing a supportive infrastructure.

The document concludes that:

• The strategy encompasses all aspects of increasing the outreach of financial intermediaries as well as the diversification of products to respond to the needs of micro-entrepreneurs.
• Donors should support the strategy by providing technical and financial assistance.