News Desk |
The United Nations Development Programme (UNDP) Pakistan and JS Bank, have signed a Memorandum of Understanding (MoU) to develop a framework for supporting micro-entrepreneurial initiatives under the framework of the UNDP’s Kamyab Jawan – Youth Empowerment Programme (YEP).
The Kamyab Jawan – Youth Empowerment Programme is focused on supporting the Government in constructing innovative and sustainable entry points for the social and economic engagement of our younger population – especially, in Khyber Pakhtunkhwa and Sindh. One of the key factors of the programme is to support young motivated micro-entrepreneurs. Entrepreneurship is currently the most viable option to support people starting from scratch – not just to create employment for the youth but also to spur economic growth in the country.
The memorandum of understanding also prioritizes their education on the availability of relevant financial products.
The MoU ensures that JS Bank and UNDP work together to enhance the business management skills of existing and aspiring young microentrepreneurs in the regions of Sindh and Khyber Pakhtunkhwa. The memorandum of understanding also prioritizes their education on the availability of relevant financial products. Efforts will also be made to provide the right financial offerings to interested and relevant customers.
Both parties expressed their hope that this was only the beginning of a productive and beneficial partnership between the two.
Commenting on the occasion, Tahir Sheikh, Group Head – Investment Banking & Emerging Business JS Bank said, “The Bank has a well-thought strategy for undertaking grass root support for entrepreneurs and promoting financial inclusion amongst the masses. This new alliance is a far-reaching step along this path and we foresee this as having a highly beneficial long-term impact.”
Efforts will also be made to provide the right financial offerings to interested and relevant customers.
Ignacio Artaza, Resident Representative a.i. UNDP Pakistan said “UNDP aims to improve the socio-economic status of the Youth by providing them with skills that increase their employment options and encouraging micro-entrepreneurship. Ensuring the financial inclusion of youth is a national priority and this partnership will provide a useful framework for that.”
The United Nations Development Programme partners with people at all levels of society to help build nations that can withstand crisis, and eventually, drive and sustain growth in order to improve the overall quality of life for masses. This organization has aided nearly 170 countries and territories with a global perspective and local insight to help empower lives and build resilient nations.
Such an initiative is highly appreciated for a developing country like Pakistan, where the youth is a fountain of talent without a pedestal to support itself. These opportunities give us hope to see Pakistan deem a higher social and economic status in the near future.