The Pakistan Poverty Alleviation Fund (PPAF) and Bangladesh Rural Advancement Committee (Brac) on Wednesday signed an agreement under which, PPAF would extend financing facility to Brac-Pakistan under its micro-credit programme. BRAC-Pakistan, with this loan, plans to facilitate 22,500 women borrowers of 25 localities in Lahore, Multan and Sahiwal, said a press release on Wednesday.
The Chief Executive, PPAF, Kamal Hyat and CEO, Brac-Pakistan, Sadequl Islam signed the agreement at the PPAF head office while, the Chairman PPAF, Hussain Dawood and Chairman Brac-Bangladesh, Fazle Hasan Abed witnessed the signing ceremony.
Bangladesh Rural Advancement Committee (Brac) started its operations in Pakistan in 2007 and now Brac-Pakistan has incorporated itself as a local entity under Section 42 of the Companies Ordinance 1984. Its entry into Pakistan is being viewed as an impetus for major upscaling of microfinance in the country.
Brac is the largest NGO that employs more than 95,000 staff members, 72 per cent whom are women and over 110 million people, with its development interventions in Asia and Africa. Brac, gradually has established itself as a pioneer in recognising and tackling different dimensions of poverty and empowerment of the poor, encompasses a large range of core programmes in health, education, economic and social development.
The Pakistan Poverty Alleviation Fund is the leading institution for poverty reduction interventions in the country. Set up as a fully autonomous private sector institution, it enjoys facilitation and support from the government, the World Bank and other international donors.
The PPAF outreach now extends throughout Pakistan and its micro-credit, community physical infrastructure, drought mitigation and education and health interventions have expanded to over 31,500 villages of Pakistan.
The Pakistan Poverty Alleviation Fund (PPAF) also works through 72 partner organisations, working in 31,500 villages with more than 92,300 communities in 113 districts across the country. It's cumulative operational activities entail over 1.9 million micro-credit loans to 11.4 million with 45 per cent women beneficiaries and 100 per cent recovery rate.
It works on over 16,500 health, education, water and infrastructure projects that impact 8.3 million including 50 per cent women beneficiaries, 238,900 trained individuals, staff and communities (42 per cent women).
In earthquake-hit areas, the PPAF has managed housing grants to over 106,000 households and 100,000 trained individuals in safe construction skills including training in reconstruction guidelines, timber frame construction, block manufacturing, masonry, plumbing and steel-fixing units. It is also rehabilitating more than 500 small-scale infrastructure projects.
In addition, it is reconstructing and refurbishing 16 health and educational facilities through a BOT model, together with assistance for operation and maintenance expenses. This programme is supported by the US corporate sector (Committee Encouraging Corporate Philanthropy-CECP).-PR
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