World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


UN Links With Pakistan Govt To Help Rural Poor

UN Agency Links With Pakistan Government To Help Rural Poor Tap Into Credit

A UN poverty-fighting agency and Pakistan’s Government sealed a $26.5 million loan agreement in Rome today that will give hundreds of thousands of people living in the country’s rural areas access to innovative financial services.

The loan from the International Fund for Agricultural Development (IFAD) will help finance the $30.5 million Microfinance Innovation and Outreach Programme, meant to support pilot projects that will test new microfinance products and services for Pakistan’s rural poor. At least 180,000 households are expected to benefit.

“This innovative programme will ensure that Pakistan’s rural poor will be able to access a wider range of sustainable financial services and products that respond directly to their needs,” said Nigel Brett, IFAD’s Country Programme Manager for Pakistan. IFAD is working closely with the World Bank on the initiative.

IFAD will also work with the Pakistan Poverty Alleviation Fund to develop a variety of new microfinance products and services aimed at reducing debt, minimizing risk and generating income and assets. These could include livestock insurance, equity partnerships, leasing arrangements, Islamic modes of financing and other innovative financing systems. Islamic financing mechanisms must adhere to a set of rules and laws collectively known as the Sharia.

The development programme will also strengthen local lending institutions so they can expand and improve their services throughout rural areas. And it will expand employment opportunities as young graduates gain practical experience by training as interns and then secure employment in local microfinance institutions.

© Scoop Media

World Headlines


At The UN: Paris Climate Agreement Moves Closer To Entry Into Force

The Paris Agreement on climate change moved closer toward entering into force in 2016 as 31 more countries joined the agreement today at a special event hosted by United Nations Secretary-General Ban Ki-moon. More>>


Gordon Campbell: On The End Game In Spain (And Other World News)

The coverage of international news seems almost entirely dependent on a random selection of whatever some overseas news agency happens to be carrying overnight... Here are a few interesting international stories that have largely flown beneath the radar this past week. More>>

Amnesty/Human Rights Watch: Appalling Abuse, Neglect Of Refugees On Nauru

Refugees and asylum seekers on Nauru, most of whom have been held there for three years, routinely face neglect by health workers and other service providers who have been hired by the Australian government, as well as frequent unpunished assaults by local Nauruans. More>>


Other Australian Detention

Gordon Campbell: On The Censorship Havoc In South Africa’s State Broadcaster

Demands have included an order to staff that there should be no further negative news about the country’s President Jacob Zuma, and SABC camera operators responsible for choosing camera angles that have allegedly made the President ‘look shorter’ were to be retrained... More>>


Gordon Campbell: On A Bad Week For Malcolm Turnbull, And The Queen

Malcolm Turnbull’s immediate goal – mere survival – is still within his grasp... In every other respect though, this election has been a total disaster for the Liberals. More>>


Gordon Campbell: On Bidding Bye Bye To Boris

Boris Johnson’s exit from the contest for Conservative Party leadership supports the conspiracy theory that he never really expected the “Leave” option to win the referendum – and he has no intention now of picking up the poisoned chalice that managing the outcome will entail... More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news