Pakistan Poverty Alleviation Fund (PPAF) will share information with National Bank of Pakistan (NBP) about its borrowers who successfully establish the business and return the loan. NBP will provide them funds under Prime Minister Youth Business Loan (PMYBL) for extension business.
Both the organizations focus on self-employment of the under privileged youth within the age brackets of 21-45 years.
PPAF has extended micro loans of up to Rs. 50,000 to entrepreneurs at 0% markup under Prime Minister Interest Free Loans Scheme in 44 districts across country. NBP would assist such entrepreneurs who have already been financed by PPAF and provide them loan in Prime Minister Youth Business Loan Scheme to upscale their business.
PPAF will share the information of these entrepreneurs with National Bank of Pakistan, and also provide assistance to these entrepreneurs by disseminating information about the Prime Minister Youth Business Loan Scheme.
The existing PPAF teams will be provided orientation training by NBP to assist the entrepreneurs for information dissemination and completion of the basic loan documentation.
In a simple ceremony both organizations sign MoU, chairperson Prime Minister’s Youth Program Leila Khan and Chairperson BISP Marvi Memon witness the event. Mr. Mudassir H. Khan SEVP, & Group Chief, Commercial Retail Banking Group (CRBG), National Bank of Pakistan , and Ms. NageenRizvi – VP & Unit Head Marketing& Promotions PMYBL, Commercial, Retail Banking Group.
While Pakistan Poverty Alleviation Fund (PPAF) was represented by Mr. Amir Naeem, Acting CEO PPAF, Ms. Simi Kamal, Senior Group Head, Grants Operations, and Mr. Farid Sabir GM PMIFLS also witness the event. Leila Khan stated that:
It is of utmost importance that we provide appropriate opportunities to the youth for vocational training and financial emancipation to build this nation. The trained and empowered youth are our true assets of Pakistan. We at Prime Minister Youth Program are determined to provide hand holding at every stage to create an empowered nation