JS Bank, UNDP sign MoU to enhance youth empowerment

United Nations Development Program (UNDP) Pakistan and JS Bank have signed a Memorandum of Understanding (MoU) to develop a framework for supporting micro-entrepreneurial initiatives initiated under the framework of the UNDP’s Kamyab Jawan – Youth Empowerment Program (YEP).
“The Kamyab Jawan – Youth Empowerment Program is supporting the government in developing innovative and sustainable entry points for the social and economic engagement and empowerment of young people in Khyber Pakhtunkhwa and Sindh,” said a press release.
One of the key components of the program was to support young motivated micro-entrepreneurs because entrepreneurship was the most viable option not just to create employment for youth but to spur economic growth in the country, it added.
Under this MoU, JS Bank and UNDP would work together to enhance the business management skills of existing and aspiring young microentrepreneurs in the regions of Sindh and Khyber Pakhtunkhwa as well as educate them on the availability of relevant financial products. Efforts would also be made to provide the right financial offerings to interested and relevant customers, it said.
Speaking on the occasion, Group Head, Investment Banking & Emerging Business JS Bank, Tahir Sheikh said, “The Bank has a well-thought strategy for undertaking grass root support for entrepreneurs and promoting financial inclusion amongst the masses. This new alliance is a far-reaching step along this path and we foresee this as having a highly beneficial long term impact.”
Resident Representative UNDP Pakistan Ignacio Artaza said “UNDP aims to improve the socio-economic status of the youth by providing them with skills that increase their employment options and encouraging micro-entrepreneurship. Ensuring the financial inclusion of youth is a national priority and this partnership will provide a useful framework for that.”
Both parties expressed their hope that this was only the beginning of a productive and beneficial partnership between the two. — APP.