NBP,PPAF offers loan for gradutes under PMYP upto Rs 2 mln

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ISLAMABAD, May 31 (APP):National Bank of Pakistan and Pakistan
Poverty Alleviation Fund would join hands with Prime Minister Youth
Programme for offering graduates, Interest Free Loan Scheme starting
from Rs 100,000 up to Rs. 2 Million under PMYBLS for enhancing their
business operations.
National Bank of Pakistan (NBP) continues its lead role in bringing about a positive change in the lives of common people through Prime Minister Youth Business Loan Scheme.
With the objective of improving the financial circumstances of
the masses and create more job opportunities for the youth of the
country, NBP is striving hard to focus on reaching out to the true
beneficiaries of the PMYBL scheme said a press release issued here.
In this quest, another milestone has been achieved by NBP on
May 30, 2017 where National Bank of Pakistan signed a Memorandum of
Understanding (MOU) with Pakistan Poverty Alleviation Fund (PPAF).
Both the organizations focus on self-employment of the under
privileged youth within the age brackets of 21-45 years.
PPAF has extended micro loans of up to Rs 50,000/- to
entrepreneurs at 0% mark up via Prime Minister Interest Free Loans
Scheme across 44 districts of Pakistan.
NBP would assist such entrepreneurs who have already been
financed by PPAF further via Prime Minister Youth Business Loan
Scheme by offering them finance facilities ranging from Rs 100,000
to Rs 2.0 Million to up scale their business.
PPAF will share the information of these entrepreneurs with
National Bank of Pakistan, and also provide assistance to these
entrepreneurs by disseminating information about the Prime Minister
Youth Business Loan Scheme.
The existing PPAF teams will be provided orientation training
by NBP to assist the entrepreneurs for information dissemination and
completion of the basic loan documentation.
Leila Khan, Chairperson Prime Minister Youth Programme stated
that “It is of utmost importance that we provide appropriate
opportunities to the youth for vocational training and financial
emancipation to build this nation.
The trained and empowered youth are our true assets of
Pakistan.
We at Prime Minister Youth Programme are determined to provide
hand holding at every stage to create an empowered nation”.
The Group Chief and SEVP National Bank of Pakistan, Mudassir
Khan stated that small businesses are vital for sustainable economic
development of Pakistan and a very important part of NBP portfolio
and target market.
Right now the sector is struggling in an operating environment
characterized by slow growth, high costs and limited financial
access.
The Government, SBP and the National Bank of Pakistan are
working to overcome the challenges through PMYBL program.
“We see great prospects for small businesses over the long term
and their contribution in growth of the country”.
NBP being the largest public sector bank has always led the
way in sharing the commitment of the Government towards uplifting
the small businesses and providing them opportunities of financial
independence.