KARACHI: The Bank of Punjab (BOP) and the Sindh Enterprise Development Fund (SEDF) officially entered into an agreement on Friday at BOP’s Corporate office in Karachi.

The purpose of this collaboration is to jointly provide project-based credit facilities to the Priority Business Segments identified by SEDF in the Province of Sindh at subsidized rates.

This shall not only leverage the collective strength and expertise, but shall also create conducive environment for the growth of SMEs, attract investments and drive economic prosperity in the Sindh Region.

During the signing ceremony, Zafar Masud, President & CEO of BOP, and Khizer Pervaiz, CEO of SEDF, took into consideration the economic growth and acceleration opportunities that this partnership offers to the Sindh Province.

Masud commended SEDF’s initiative to grant Markup subsidies to the eligible borrowers in Sindh, emphasizing how it would support their growth in the midst of the challenging economic conditions.

Khizer Pervaiz, CEO of SEDF, expressed his appreciation for BOP’s efforts in extending financial inclusion opportunities to SMEs. He emphasized the pivotal role SMEs play as the backbone of the country and said that the arrangement was a testament to their commitment to catalyze economic growth in Sindh.

Copyright Business Recorder, 2023