Pakistan Poverty Alleviation Fund (PPAF) and Citi Foundation on Tuesday announced the launch of 7th Citi-PPAF Microentrepreneurship Awards (CMA) 2010 programme. Chief Strategy Officer PPAF Ahmad Jamal, while talking with media said this year some $32500 worth cash awards would be distributed in the 7th Citi-PPAF award ceremony likely to be held in December.
"So far PPAF has made about one billion dollars investment during the last ten years and major part of worth $650 million dollars has invested in microfinance sector", he informed. The CMA programme is held annually to recognise and reward leadership, entrepreneurial skills and best practices of individual microentrepreneurs at national, provincial and regional level, he added.
Now in its seventh year, the objective of the CMA programme is to highlight and promote the effective role microfinance plays in poverty alleviation, he said. In particular, the programme seeks to generate recognition for extraordinary contributions that individual microentrepreneurs have made to economic sustainability of their families as well as their communities.
Specific goals of CMA programme are to raise awareness about microfinance, particularly among microentrepreneurs who could benefit from it, to recognise and celebrate the contributions that microentrepreneurs bring to the world economy and to highlight best practices in microentrepreneurship, Jamal added.
The awards also aim at raising awareness and support for microentrepreneurs by highlighting their talents and accomplishments among the investment and donor community throughout the world, he said and added that these awards are also meant to create the next generation of microfinance networks, build more inclusive financial sectors and lay foundation for a flourishing microfinance industry.
Awards in cash and kind would be presented in the categories of "Best National Microentrepreneur Male", 'Best National Microentrepreneur Female' and four "Best Provincial Microentrepreneurs', with one runner-up for each category, Jamal informed.
While, special recognition awards will be also given to the respective Loan Officers and representatives of Microfinance Institutions at an elaborate event. A national advisory council comprising professionals from civil society, donor agencies, intellectuals and academicians has been formed to oversee the programme and to interview short-listed candidates. Citi Consumer Banking Head, Aliuuddin Ahmed said that Citi group has enhanced funds for award and this year some $65000 will be provide for award ceremony as compared to $55000 during last year.
He said that Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, Citi Financial, Primerica and Banamex. Citi Director Customer Experience Huma Gilani, Chief Operating Officer PPAF Kamran Akbar and others were present on this occasion.