Khartoum: The Central Bank of Sudan (CBOS) has launched a significant financial inclusion initiative, allocating SDG 20 billion to support the winter season’s economic activities. This ambitious project includes SDG 1.8 billion in restricted modaraba contracts with Azm Microfinance Company and Al-Ebdaa (Creativity) Microfinance Bank, aiming to integrate small producers into the formal banking system.
According to Sudan News Agency, the initiative seeks to reach three million new beneficiaries and is expected to significantly reduce poverty and unemployment while creating over 129,000 jobs. A particular focus is placed on rural women, especially female breadwinners, to ensure their inclusion in the financial system. The project also emphasizes the importance of sustaining microfinance institutions in the long term.
The financial inclusion plan is designed to support young entrepreneurs, small and medium farmers, and production groups. It strategically allocates resources with 50% directed towards agriculture, 30% towards industry, and 10% each to trade and services, ensuring coverage across all states in Sudan.