PPAF honored with IFAD Gender Award on
International Day for Elimination of Violence Against Women
Pakistan Poverty Alleviation Fund (PPAF) Chief Executive Qazi Azmat Isa, Financial
Services Group Head Yasir Ashfaq and Compliance & Quality Assurance Group Head Samia
Liaquat Ali Khan photographed after receiving the prestigious Gender Award in Asia
and the Pacific Region for 2014 by the International Fund for Agricultural Development
The International Fund for Agricultural Development (IFAD) has awarded the Pakistan
Poverty Alleviation Fund (PPAF) with the prestigious Gender Award in Asia and the
Pacific Region for 2014.
PPAF’s Program for Increasing Sustainable Microfinance (PRISM) funded by IFAD has
been recognized for addressing gender inequalities, empowering women and providing
them visibility in the best possible manner throughout IFAD and across its network
of partners in Pakistan.
Qazi Azmat Isa, CEO of PPAF, said, “We are honored that IFAD has recognized the
work PPAF has done in promoting gender equity and empowerment. Under PRISM, the
ratio of women borrowers increased to 73 per cent as compared to the ratio of 50
per cent set as target. Under the program, PPAF facilitated lending to 137,751 women
and 45,488 men.”
PPAF has invested in the formation of women-led value chains and facilitated capacity
building and provision of loans to generate income streams. These value chains are
geared to enable communities, especially women, to access quality financial services
and to truly utilize economic opportunities leading to reduction in poverty. PPAF
has also facilitated women in accessing improved income generation enterprises under
PPAF, through PRISM, has helped increase understanding of microfinance by commercial
sector players, improving awareness by microfinance institutions of working with
commercial sector and contributing towards creation of a positive policy environment
for microfinance operators. This has resulted in lending amounting to PKR.10.98
billion to the sector by 10 commercial banks through a guarantee mechanism, 50%
of which is collateralized by PPAF.
The award ceremony was held in Rome on November 25, 2014, the International Day
for Elimination of Violence against Women. M. Mordasini, IFAD Vice President, J.
McIntire, IFAD Associate Vice President, awards recipients and other dignitaries
were present on this occasion.
IFAD’s partnership with PPAF under PRISM offers microfinance services to the rural
poor in Pakistan to improve their livelihoods especially in agriculture and livestock.
It also provides space for developing innovative financial products such as livestock
and crop insurance, business incubation labs for women entrepreneurs as well as
rolling out products based on Islamic modes of financing.
IFAD works with the Government of Pakistan to develop and finance program that enable
rural poor to overcome poverty. IFAD has been a major development partner in Pakistan
since 1978 and to-date, it has provided USD 4.09 billion for various projects/programs