MICROCAPITAL BRIEF: Arab Fund for Economic and Social Development (AFESD) Loans $50m to Sudan for Rural Microfinance

The Arab Fund for Economic and Social Development, a 22-member multilateral financial institution, recently loaned USD 50 million to the Central Bank of Sudan, primarily for rural microlending. Approximately 50 percent of the loan has been disbursed via four microfinance institutions (MFIs) and 11 state institutions, none of whose identities have been specified [1].

As of 2013, AFESD reported total assets of KWD 2.97 billion (USD 9.8 billion).

By Jeff Pierce, Research Associate

About Central Bank of Sudan

The Central Bank of Sudan was formed in 1960, four years after Sudan achieved independence. Located in Khartoum, its functions include regulating the issuance of currency, formulating and directing monetary and finance policies to serve various economic sectors, and supporting the nation’s banking system.

About Arab Fund for Economic and Social Development

The Arab Fund for Economic and Social Development (AFESD), a Kuwait-based multilateral financial institution with 22 members, was established in 1974 to focus on the development of Arab countries. As of 2013, AFESD reported total assets of KWD 2.97 billion (USD 9.8 billion).

Sources and Additional Resources:

[1] Sudan Vision News Story: “Will US$50 Million Help Microfinance Institutions Combat Poverty,” Basheri, Shadia, http://news.sudanvisiondaily.com/details.html?rsnpid=249736

MicroCapital Universe Profile: Central Bank of Sudan

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Central+Bank+of+Sudan+%28CBOS%29

MicroCapital Universe Profile: AFESD

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Arab+Fund+for+Economic+and+Social+Development+%28AFESD%29

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