Home FWBL SEDF and FWBL agree on institutional cooperation. News Jani

SEDF and FWBL agree on institutional cooperation. News Jani

SEDF and FWBL agree on institutional cooperation.

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KARACHI: Sindh Enterprise Development Fund (SEDF) and First Women Bank Limited (FWBL) have signed an institutional cooperation agreement to provide concessional credit to women entrepreneurs in Sindh. According to a press release, Khizr Pervez, CEO-SEDF and Farrukh Iqbal Khan, President and CEO-FWBL signed the agreement.
The event was held at the head office of FWBL in Karachi and was specially attended by Syed Qasim Naveed Qamar, Special Assistant to Chief Minister Sindh on Investment and PPP Projects.
Under the said agreement, FWBL will provide project financing and mark-up subsidy on loans provided by SEDF Bank. The expected outcome of the collaboration is to create a win-win situation for stakeholders and create an environment conducive to promoting investment opportunities in the province.
It is a step towards financial inclusion for a neglected but important segment of the economy with a focus on modernizing the rural economy of Sindh. Inshallah this will pave the way for balanced development and financial inclusion of women entrepreneurs.
SEDF has been set up by the Government of Sindh with a vision to encourage investment in the SME sector to boost entrepreneurship and provide a major boost to the wider economy. It aims to promote opportunities in agri value chains, horticulture and floriculture, green energy and innovation and technology to achieve multiple economic benefits on growth, intermediate services and productivity. It seeks to introduce interventions to improve efficiency and profitability through various measures of technical assistance and mark-up subsidies. SEDF has a special focus on women’s entrepreneurship development for financial inclusion of this important sector of the economy.
FWBL is a unique financial institution and commercial bank with a mandate to cater to the financial and business needs of women and provide them with easy access to credit for enterprise development. The FWBL model worked to cater to women at all levels of economic activity – small, medium and corporate.
Sindh Government Investment Department Secretary Syed Mansoor Abbas Rizvi and other senior officials of both institutions participated in the ceremony.

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