Pakistan Microfinance Investment Company (PMIC) launches challenge fund

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PMIC has launched the first round of Challenge Fund for Small farmers to help them get access to finance and other value addition services through Ag-tech/microfinance providers. The financial and non-financial services offered by applicant should focus on ease in access to credit, trainings and ca-pacity building that help them impart good crop cultivation practices. Technology and good agri practices are to be at the heart of the business mod-els proposed using, but not limited to, trainings of farmers, satellite imagery, soil testing, efficient water, fertilizer and pesticide usage, linkages with input providers and facilitating farmers in crop sales. These interventions would ultimately result in lower input costs, increased crop yield and higher incomes of the farmers.

Mr. Ashfaq Chief Executive Officer PMIC added, “I am excited and pleased to announce the launch of Challenge Fund by PMIC. The purpose of Challenge Fund is to achieve PMIC’s triple bottom line by offering a competitive environment to par-ticipating organizations in Microfinance Plus inter-ventions where both, funds and technical assistance will be provided for all such initiatives. PMIC will keep on working for our clients living at the bottom of the pyramid and continue to offer innovative approaches and programs that support their liveli-hoods and improve their standard of life.”

The goal of the challenge fund is to provide relevant market players an opportunity to pilot or scale interventions on the thematic area “Accelerat-ing access to finance and increasing income of small farmers” for financial inclusion, sector development and benefiting end clients.

 

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