Citibank to give $100,000 to LUMS, Pak Micro Finance Network

CCO and MD Citibank Arif Usmani said that Citibank will give 100,000 dollars to Lahore University of Management Sciences (LUMS) and Pakistan Micro Finance Network for doing research in Microfinance besides organising an International Conference at LUMS by end 2011.
He was addressing the Conference on the Achievements of Management Development Programme for Microfinance Institutions and Introduction to the Financial Literacy Project organised by LUMS Social Enterprise Development Center (SEDC) on Thursday. Director MBA programme Dr Rizwan Amin Sheikh, MD KASHF Bank Ghazanfar Nizam, Director Akhuawat Foundation Dr Amjad Saqib and representatives of different microfinance institutions also spoke on the occasion.
Usmani said that government should focus on increasing the tax base by broadening the tax net and including agriculture in to tax net. He announced that Citi Foundation is inviting proposals for Citi Foundation Grants for the year 2011-2012 and the last for submitting applications is March 24, 2011. He urged the microfinance institutes to submit applications for the programme.
Usmani said that micro and small enterprise are powerful and efficient drivers of economic growth and job creation globally. The Citi Foundation supports the growth of these enterprise by investing in their institutional capacity along with enhancing their access to capital. He said that their focus is on microfinance, enterprise development, youth education and livelihoods and Financial capability and Asset Building.
Speaking on the occasion Amjad Saqib said that availability of good human resource is the main problem in microfinance. He also said that we should try to develop a system, which serves the poor.
Director MBA programme LUMS Dr Rizwan Amin said that objective of the programme is to train youth, students including youth from remote areas of the country with practical, real world skills preparing them to face economic challenges and sustainable asset building in the modern world and handle their finances better, leading to higher standards of living.