P&G Pakistan today signed a MoU with Akhuwat, a not-for-profit organization, to lend interest-free microloans to women entrepreneurs to enable them to create sustainable streams of income.
This collaboration is anotherinitiative that reiterates P&G’s commitment to equality & inclusion in the country, under its Citizenship focus of being a Force for Growth and a Force for Good.
This project aims to change the lives of over 500 women as well as create additional employment opportunities for approximately 800 more citizens, during its running.
Adil Farhat, Chief Executive Officer P&G Pakistan, said, “We are committed to the cause of gender parity and will continue to broaden economic opportunities for women in a sustainable and transformative manner.
We have collaborated with Akhuwat to reach out to women in marginalized communities and provide opportunities to instate financial independence amongst women entrepreneurs.”
Women’s financial inclusion continues to progress globally as they move into a growing space as entrepreneurs, startup founders and businesswomen. However, in Pakistan, the role of women is still societal rather than economic. Women are accorded esteem and importance from a social standpoint; but in economic terms, the status of women is amongst the lowest in the world.
A report from World Bank suggests that to decrease that very gap, it is important to extend monetary credit opportunities to women to help initiate, grow and prosper their professional endeavors. P&G’s efforts in this area support the United Nations Sustainable Development Goals # 1 – to eradicate poverty; and # 5 – gender equality.
