MoU signed to promote livestock sector

LAHORE/ KARACHI: A memorandum of understanding (MoU) was signed on Friday between the Punjab Enabling Environment Project (PEEP) and the National Rural Support Programme’s (NRSP) Microfinance Bank Limited for mutual cooperation on promotion of agriculture and livestock sectors in the province.

The Punjab Enabling Environment Project is a United States Agency for International Development (USAID) funded project to promote entrepreneurship in livestock, dairy, and horticulture sectors.

Speaking at the ceremony, USAID Agriculture Specialist for Punjab Asadullah Khan said the PEEP and the NRSP Microfinance Bank would work together to facilitate access to finance in the livestock sector.

NRSP Microfinance Bank president Zahoor Hussain Khan said livestock farmers would be encouraged to use various microfinance products to undertake initiatives that could help improve meat quality and yield.

A statement released on Friday said that the PEEP would help the NRSP Microfinance Bank Limited develop a microenterprise lending portfolio for livestock farmers. It said the programme offered a series of financial, technical, commercial, and legal advisory services for potential investors.

The TAS would mobilize start-up investment of $1 million through which small loans could be extended to livestock enterprises with matching leveraging from the private sector partners, it added.

Published in The Express Tribune, May 28^th, 2016.