The government of Khyber Pakhtunkhwa and Small & Medium Enterprises Development Authority (Smeda) Friday signed a memorandum of understanding (MoU) for the implementation of $11 million SME component of the Economic Revitalisation of Khyber Pakhtunkhwa and FATA (ERKF)-Additional Finance (AF). The project is funded by the Multi-Donor Trust Fund (MDTF) and implemented by the World Bank.
The purpose of the fund is the technology up-gradation of Khyber Pakhtunkhwa and making it competitive. In the first phase of the project, SMEDA had disbursed an amount of US $5 million amongst 1700 crisis-hit SMEs of the Khyber Pakhtunkhwa and FATA.
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