When the Republic of South Sudan became an independent state on 9 July 2011, the new country instantly became one of the poorest in the world. However, South Sudan is entering a dynamic phase in the development of its microfinance sector, with a range of service providers emerging and a regulatory framework that is moving in a positive direction. Sudan ranks 171 put of 187 countries in the 2012 Human Development Index.
How We Are Helping?
UNCDF is helping South Sudan to meet its development challenges by working to stimulate the fast-emerging microfinance sector. The urgent need to assist in developing the capacity of Financial Service Providers and Technical Service Providers and building a sound financial sector remains a driving focus for UNCDF in South Sudan.
Over the last three years, through its MicroLead programme UNCDF targets the retail level of the sector, seeking to cultivate market leaders to drive sector development. With support from the Bill & Melinda Gates Foundation, MicroLead provides loans and grants to leading microfinance institutions and financial service providers on a competitive basis.