PPAF-BRAC collaboration for poverty reduction

April 30, 2008

Pakistan Poverty Alleviation Fund (PPAF) and Bangladesh Rural Advancement Committee (BRAC) have signed an agreement through which PPAF would extend financing facility of Rs. 270 million to BRAC-Pakistan under its microcredit programme. With this facility, BRAC-Pakistan plans to target 22,500 borrowers (all women) from 25 localities in Lahore, Multan and Sahiwal.

CEO/MD PPAF Mr. Kamal Hyat and CEO BRAC-Pakistan Mr. Sadequl Islam signed the agreement at PPAF head office while Chairman PPAF Mr. Hussain Dawood and Chairman BRAC-Bangladesh Mr. Fazle Hasan Abed witnessed the signing ceremony.

BRAC is the largest NGO of Bangladesh committed to fighting poverty and reaches over 110 million people with its development interventions in Asia and Africa. The BRAC entry into Pakistan is viewed by many as an impetus for major upscaling of microfinance in the country.

Over the course of its evolution, BRAC has established itself as a pioneer in recognizing and tackling different dimensions of poverty and empowerment of the poor. It encompasses a large range of core programmes in health, education as well as economic and social development.

At present PPAF is carrying out its various interventions through 72 partner organizations working in 31,500 villages with more than 92,300 communities in 113 districts across the country.  PPAF’s cumulative operational activities entail over 1.9 million microcredit loans (impacting 11.4 million with 45 per cent women beneficiaries and 100 per cent recovery rate), over 16,500 health, education, water and infrastructure projects (impacting 8.3 million with 50 per cent women beneficiaries), 238,900 trained individuals, staff and communities (42 per cent women).

       Chief Executive/Managing Director PPAF Mr. Kamal Hyat and CEO

       BRAC-Pakistan Mr. Sadequl  Islam at the  MoU signing ceremony at

       PPAF head office, Islamabad.