PPAF to extend 1m micro loans to combat poverty
It plans to provide financial services to the excluded poor that enable them to become economically active.
According to the PPAF, the credit programmes offer a small loan to the beneficiaries for self-employment that enhance their income streams and eventually will make them self-reliant and move out of poverty.
As per the PPAF document, although microcredit has been the main thrust in the past, today microfinance encompasses a wide range of financial services such as credit, savings, insurance and remittances. Microfinance is a powerful instrument of anti-poverty strategy as it is cost effective and sustainable, and also because donor money is recycled and reused to benefit many.
The other objectives are to implement 3,500 small scale water and infrastructure schemes, to strengthen over 25,000 new community organizations in order to building livelihood in the most deprived districts, transfer over 300 assets to the deserving families and provide trainings to around 0.15 million community members, establish 50 new community health clinics and 200 new schools, rehabilitate over 6,000 persons with disabilities and train around 3000 staff of partner organizations and over 25,000 community members.
Highlighting the performance during last year, the document said that the PPAF disbursed funds in urban and rural areas of 129 districts of the country to about 297,000 community organizations through 112 partner organizations, of which 12 focused exclusively or predominantly on women.