SBP, PPAF to develop microfinance industry

Tariq Bajwa, governor of State Bank of Pakistan (SBP) has said that central bank is working with Pakistan Poverty Alleviation Fund (PPAF) to lead the sustainable development of microfinance industry in the country.
“This is based on a shared vision to promote inclusive growth by creating livelihood opportunities for low-income segments thus enabling them to contribute effectively towards socioeconomic development of their households, communities and of course of Pakistan,” said governor SBP while addressing the Citi – PPAF Microentrepreneurship Awards (CMA) ceremony.
He congratulated PPAF and the Citi Foundation for their continued support to address the multidimensional issues of poverty in the marginalized segments of the society.
Qazi Azmat Isa, CEO of PPAF, said: “Since 2005, we have recognised 450 outstanding microentrepreneurs through the Citi-PPAF Microentrepreneurship Awards. These microentrepreneurs are chosen for their exceptional perseverance and hard work. With microcredit, they have changed their own lives and contributed to the development of their communities. The Citi Microentrepreneurship Awards programme is a fantastic way to highlight best practices in micro-entrepreneurship and to raise awareness about microfinance and its importance for a thriving economy.”