Pakistan Poverty Alleviation Fund (PPAF), with the support of World Bank, will launch a $240 million poverty alleviation project by the end of this month.
The project, second of its kind, will bring to a further five million poor and disadvantaged people access to support and services, to make a significant difference in the lives of people.
The main components of the project include micro credit, infrastructure, social services, skill enhancement programmes, health and education, with women to be especially targeted for this support, sources at the relevant quarters told APP.
According to the sources, under the credit and enterprise component of the project, loans will go to partner organisations for on lending to individuals and groups.
Under the new project, the PPAF will expand outreach and move from a micro-credit to a micro-finance approach, offering more comprehensive financial solutions to its clients, with over one million new loans planned for over half a million borrowers.
Community infrastructure, another main component of the project, will continue to support small-scale community works and initiatives.
According to the plan, village-wide infrastructure solutions will be provided in a way that the communities themselves carry out sub-projects, the sources said, adding, over 7,000 schemes are estimated to be completed under this component.
Training and skill development will cover the costs of training communities as well as staff of PPAF's partners, with over 170,000 community members and 5,000 staff to be reached by this component.
Under the component of education and health, focus would be on access to education and health facilities that are critical for improving standards of living and reducing poverty.
The PPAF will provide $5million in grants to partner organisations for operational and capital costs as well as training, skills development and capacity building in these two areas, the sources revealed.
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