Current Date:

Monday, 29 January 2018

Microfinance to Support Poor Families

Khartoum- President of the Republic, Omer Hassan Ahmed Al Bashir, has directed the Sudanese banks to allocate 12% for the microfinance projects and to reduce the percentage of interest. He directed also the banks to raise and double the finance standard particularly in the different states where there are wide opportunities for product. Such efforts will play a role in solving economic issues.
The recent hikes of prices of commodities, services and the basic needs touched the whole society,0. and created some sort of tension and anxiety, lack of self-confidence among all Sudanese families’ rich and poor who are complaining and suffering from crazy prices. This jumping in prices raised the curve of fear in side these families. Lots of efforts are exerting to solve such issues. To decrease or increase of prices is not an ultimate solution for economy itself is not static, it is mobile, everyday you find new theories even the developed countries.
Experts described the imbalance between the limited incomes and the daily consumption is one of the main factors of this suffering. Families always talk about economic policies and strategies of the government. The Government exerts more efforts to fill this gap or imbalance. Many economic programs are set to solve these issues. Microfinance is one of these supportive programs.
To increase product in any developing country will support the national economy and support the sustainable development in rural areas as well as the urban ones. Microfinance is one the mechanisms to support poor families to increase their incomes to face the daily increase in prices.
There are many requirements to make such programs successful including the reducing the long process of complicated procedures in these banks to enable these poor families to benefit from these programmes. It is the commitment of these banks to provide these funds according the schedule programs and to reduce waiting of these families for months to benefit from these funds. Women and rural women and the youths have noticeable successful programs and experiments in this regards, but they need full support from the government to go forward.
 Microfinance programs will support greatly in reducing the poverty rates, increasing product, creating competitive opportunities among the different states.  At the same time support the export process all over Sudan.