Khushhalibank, MEDA team up to finance micro-entrepreneurs

Deal aims to provide easy access to finance to entrepreneurs.


Our Correspondent December 12, 2012

KARACHI: The Mennonite Economic Development Associates (Meda), an international not-for-profit organisation working in various countries all over the world, and implementing US Agency for International Development’s (USAID) Entrepreneurs project in Pakistan, recently signed a memorandum of cooperation with Pakistan’s foremost and leading microfinance bank, Khushhalibank, with an aim to promote their common vision of promoting economic development and access to finance, said a press statement.

The main objective of this collaboration is to provide sustainable solution for access to finance to micro-entrepreneurs. Both organisations agreed to identify potential micro-entrepreneurs and help facilitate meetings with those willing to avail microfinance facilities from Khushhalibank. They also decided to take appropriate measures to prepare business plans for interested micro-entrepreneurs, improve their technical skills and linkage development with market.

Meda agreed to strengthen links of Khushhalibank with these businessmen and women including regular communication, coordination and counselling. The memorandum will be effective from the December 10 until completion of the sub-grants in March 2014.

Speaking on the occasion, Khushhalibank President Ghalib Nishtar said, “Small and medium sized micro-entrepreneurs are vital to the economic growth of the country.”

“The very boom of microfinance has appeared as sheer blessing for socioeconomic survival of the country as microfinance which has been successfully bringing up the positive changes at the macro level.

Published in The Express Tribune, December 13th, 2012.

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