Financial and technical support to be extended to Fata to attract investment through public-private partnerships. PHOTO: FILE.
The Economic Revitalisation of Khyber-Pakhtunkhwa and Federally Administered Tribal Areas (ERKF) project sponsored by World Bank held its first workshop at a hotel on Tuesday.
The project is tasked with addressing the recovery and rehabilitation needs of regions most affected by militancy and natural disasters. It was launched on the recommendations of the Post Crisis Needs Assessment (PCNA).
The workshop was attended by officials from the Fata Secretariat and political agents of Bajaur and Kurram agencies.
Project Director Muhammad Imran Khan said ERKF costs $7 million and is financed by World Bank through a grant based on Multi-Donor Trust Fund (MDTF). The project consists of three key components – small and medium enterprise (SME) development, investment mobilisation and capacity building to foster investment and reforms.
He said the project is extending support by issuing grants to SMEs affected in the region, in order to restore and revitalise the loss of capital and investment incurred by the private sector.
Financial and technical support will also be extended to Fata to attract investment through public-private partnerships and create links between domestic and international economies.
Fata Secretariat Information Director Fazluallah said the objective of this workshop was to provide a forum for key public and private sector representatives from Fata and Frontier Regions to collectively discuss, deliberate and formulate a strategy to address the current challenges faced by the project.
Published in The Express Tribune, June 12th, 2013.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ