January 6, 2009

New Project Won—Southern Sudan: Generating Economic Development through Microfinance in Southern Sudan

ACDI/VOCA has won a $10.4 million subaward from the USAID-funded Generating Economic Development through Microfinance in Southern Sudan (GEMSS) FIELD Leaders With Associates (LWA) Program. AED is the prime implementer of the FIELD LWA, which will work to increase access to financial services in Southern Sudan for poor entrepreneurs and households.

Southern Sudan is in the process of rebuilding after a protracted civil war. Under the agreement with the Republic of Sudan, Southern Sudan is largely autonomous now and has the chance to vote for full independence in 2011. Currently in Southern Sudan, there are three microfinance institutions, a microfinance association and a newly established currency. Nonetheless, the financial sector is still hampered by low technical and managerial capacity, insufficient resources and inadequate physical or legal infrastructure.

Strengthening the sector to meet underserved client demand will allow the microfinance sector to play an important role in rebuilding the region, helping microenterprises to grow and meet Southern Sudanese expectations for concrete benefits to peace.

To learn more about ACDI/VOCA’s work in Sudan, click here.