The Southern Sudan Microfinance Development Facility (SSMDF), a microfinance investment facility supported by the Ministry of Finance and Economic Planning, the Ministry of Commerce and Industry, and the Ministry of Agriculture and Forestry of the Government of Southern Sudan, will provide funding of SDG 214,290, the equivalent of USD 92,565, to the Rural Finance Initiative (RUFI), a microfinance institution (MFI) located in Southern Sudan, over a period of three years.The funding will be used to provide technical assistance to the MFI as well as loans for current and new RUFI clients. Specifically, the technical assistance will include improvement of human resource capacity, purchasing of equipment and improvement of internal systems. Funding for SSMFD comes from the Central Bank of Sudan, the Government of Southern Sudan, and the Multi Donor Trust Fund of Sudan, a microfinance fund supported by 14 international donors and the World Bank.
By Christopher Maggio, Research Assistant
About:
Southern Sudan Microfinance Development Facility (SSMDF)
Description:
The Southern Sudan Microfinance Development Facility (SSMDF) is a microfinance investment facility supported by the Ministry of Finance and Economic Planning, the Ministry of Commerce and Industry and the Ministry of Agriculture and Forestry of the Government of Southern Sudan. It was founded in 2007 and is particularly interested in microfinance institutions (MFIs) that reach underserved populations such as youth, women, ex-combatants, and people in underserved states. It also provides technical assistance. Funding for SSMFD comes from the Central Bank of Sudan, the Government of Southern Sudan and the Multi Donor Trust Fund of Sudan, a microfinance fund supported by 14 international donors and the World Bank.
About:
Rural Finance Initiative (RUFI)
Description:
Rural Finance Initiative (RUFI) is a microfinance institution (MFI) located in Southern Sudan. It began operations in 2008. As of Februrary 28, 2010, it serves 300 clients. As of this same date, RUFI does not report to the MIX Market, the microfinance information clearinghouse. RUFI does not have a website.
Additional Resources:
SSMDF press release (housed at gurtong.net) entitled ‘Rural Micro-finance Institution Receives Boost from GoSS’: http://www.gurtong.net/ECM/Editorial/tabid/124/ID/3206/Rural-Micro-finance-Institution-Receives-Boost-from-GoSS.aspx
Microfinance Gateway article from December of 2007 entitled ‘Bank of Southern Sudan Launches Microfinance Development Facility’: http://www.microfinancegateway.org/p/site/m/template.rc/1.26.8917/
MicroCapital’s Microfinance Universe profile: Southern Sudan Microfinance Development Facility (SSMDF)
MicroCapital’s Microfinance Universe profile: Rural Finance Initiative (RUFI)
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