PPAF, FWBL sign MoU to promote agri-businesses in Pakistan

KARACHI: The MoU between Pakistan Poverty Alleviation Fund (PPAF) and First Women Bank Limited (FWBL) would ease financial support to micro, small and medium enterprises (MSMEs) to develop livestock and horticulture sectors in 22 districts of Sindh and Balochistan.

The organisations reached this shared understanding at a signing ceremony to partner under the EU-funded Growth for Rural Advancement and Sustainable Progress (GRASP), being implemented by International Trade Centre (ITC) in partnership with PPAF and Food and Agriculture Organization (FAO). FWBL is now part of consortium of 22 leading financial institutions of Pakistan that have partnered with PPAF to uplift the agribusinesses in the GRASP target areas.

Speaking on the occasion, Nadir Gul Barech, COO, PPAF shared PPAF’s more than two decades role in poverty reduction through various indigenous programs throughout Pakistan. He emphasised the role of collaboration with commercial banking sector for other common goals and offered linkages for the deliberation of FWBL’s CSR component.

Farukh Iqbal Khan, President and CEO, FWBL highlighted that FWBL’s mandate is women economic empowerment, and the Bank is always forthcoming and excited to take this mandate forward. He further elaborated this partnership through the GRASP project will help reach the women in the remotest regions of the country facilitating their participation in the country’s formal economy.

Copyright Business Recorder, 2022