US $250m World Bank support for PPAF

June 10, 2009

In recognition of track record and performance of Pakistan Poverty Alleviation Fund, the World Bank’s Board of Directors has approved US $250 million for poverty reduction project (PPAF-III) for next five years.

Speaking on media briefing Mr. Kamal Hyat, CEO/MD of PPAF, highlighted the fact that the World Bank funding is based on the consideration of PPAF’s output, lowest administrative cost, effectiveness of outcomes and impact on the poorest at the grassroots level.

Whereas PPAF-I (1999-2004) focused on growth and PPAF-II (2005-09) went to national scale, the thrust of PPAF-III (2009-2013) will be on integration and depth in terms of scope and activities. It will focus on five key areas of social mobilization & institutional building, livelihood enhancement and protection, microcredit access, basic services and infrastructure and project implementation support.

PPAF is the largest institution of its kind in the world impacting directly/indirectly 16.8 million people with microcredit with 100 per cent recovery rate, 16,400 health, education, water and infrastructure projects, impacting 11 million with 50 per cent women beneficiaries and 330,000 trained individuals (40 per cent women).

It has consistently received AAA rating from the World Bank. Moreover, the PPAF model is being replicated internationally in various developing countries.

Mr. Kamal Hyat, CEO/MD, PPAF addressing the press conference on US$250 million support by the World Bank.

He is flanked by Mr. Ahmad Jamal, CSO, PPAF and Mr. Zaffar Sabri, GM,PPPAF Water Management Centre.