To celebrate 'International Year of Micro-Credit 2005' declared by the United Nations, a micro mela was organised by the Sindh Micro Finance Network (SMN) with the financial support of Financial Sector Strengthening Programme (FSSP) at a local hotel on Monday.
In the mela, 52 stalls were set up by banks and leasing companies, cottage industry and handicraft artisans from all the four provinces in collaboration with the State Bank of Pakistan.
Speaking at the inaugural session, SMN Chief Executive Suleman G Abro said the SMN idea was initiated by Sindh Agricultural and Forestry Workers Co-ordinating Organisation. The objective was to enhance capacity of member organisations by providing them technical assistance, build database of micro-finance institutes, conduct research on micro-finance-related issue and provide development services and to facilitate effective networking at provincial, national and international level and share experiences, he added.
Outlining the objective of the micro-credit year, he said its one of the strategies was to address constraints that excluded people from full participation in the financial sector.
He said many developing countries had introduced schemes like small saving and loans, collateral substitute, quick and repeated loans, because the poverty problems faced by the developing countries demanded resources.
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