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The USAID / Pakistan launched a fresh programme
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The USAID/Pakistan on Monday launched a fresh programme to support Micro, Small and Medium Enterprises (msmes); by easing more access to formal financing facilities for broad-based economic growth. Bank Alfalah Limited, JS Bank Limited, Khushhali Bank Limited and First Microfinance Bank of Pakistan Limited would be the partners in the Loan Portfolio Guarantee (LPG). Pakistan has also joined the programme by providing a partial credit guarantee to support new loans of up to $60 million.
At the launching of this programme, US Consulate General in collaboration with USAID's Lahore Provincial Office, held a launch event in Faletti’s Hotel. The launch aims to create awareness of this lending mechanism and ensure greater access to credit for msmes. The event represented an ideal venue for USAID/Pakistan and its partner banks to interact with msmes and provide an in-depth briefing about the products available to msmes in Punjab.
A delegation of the Gold & Gems Art Promotion Council of Pakistan, headed by it President Muhammad Ahmad, attended the function at the special invitation extended to it by the USAID. The following attended the function:
Muhammad Ahmad, (President); Rana Nadeem Aleem (Vice-President-Jewellery Sector); Ahsan Sarwar Khan (Director-Research & Development); Irfan Salahuddin, (Vice-President-Gem Sector); Shahid Mahmood, (Joint Secretary) and Muhammad Alamgir (Vice-President).
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