Pakistan Poverty Alleviation Fund (PPAF) will host three-day the Asia-Pacific Regional Microcredit Summit in partnership with Microcredit Summit Campaign in Islamabad from March 4-6, 2008. Microcredit empowers the poor and builds financially self-sufficient institutions for a positive impact on their lives.
It will bring together people involved with microcredit around the globe for the promotion of best practice in the field. Launched in 1997, the Microcredit Summit Campaign is committed to reach 175 million of the world's poorest families with credit for self-employment and other financial and business services, ensuring 100 million families rise the $1 a day threshold.
Currently, PPAF partners have the largest share of over 50 cent of the total market in microfinance services to the poor and marginalised communities across Pakistan. It has so far disbursed Rs 15.53 billion among the poor while total number of microcredit loans exceeds 1.3 million with almost 100 percent recovery rate.