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Project launched for merged districts economic revitalization

PESHAWAR: Economic Cooperation and Development Forum (ECDF) for economic revitalization of the newly merged districts of Khyber Pakhtunkhwa was formally launched here on Thursday.The project is part of USAID-funded Fata Economic Revitalization Programme (FERP), which is meant to provide sustainable livelihood and income generation opportunities leading to long-term economic growth and contributing to resilience and economic revitalization of the newly merged districts of KP.It would be jointly implemented by the United Nations Development Program (UNDP) and Small and Medium Enterprises Development Authority (SMEDA) Pakistan.Special Assistant to KP chief minister on Industries and Commerce, Abdul Karim Khan, was the chief guest on the occasion.Besides, Chief Executive Officer (CEO), SMEDA, Fuad Hasham Rabbani, General Manager Out-Reach (GMOR), SMEDA, Javed Iqbal Khattak.Provincial chief of SMEDA, Rashid Aman, presidents of various chambers of commerce, representatives of UNDP, USAID and several experts from the public and private sectors attended the event.The overall objective of the forum is to facilitate collaboration and partnership among different institutions/organizations and to reflect on ways to enhance the investment of private sector companies (businesses and financial institutions) into the tribal districts of KP.The forum will comprise of 40 experts on economic development and private sector investment, including representatives from the government, the business community, banks and micro-finance institutions, think-tanks, policymakers, academia as well as development partners.Special Assistant to KP CM Abdul Karim Khan appreciated the joint forum established by the SMEDA and UNDP and assured full cooperation to the initiative.He proposed that besides, English, the draft of the document to be prepared by the forum should also be compiled in Urdu. He assured that the provincial government would provide resources for the purpose as well.Zahidullah Shinwari, a former president of the Sarhad Chamber of Commerce and Industry (SCCI) appreciated the formation of the forum for the economic development of merged districts.He was of the confident that the economic recovery will automatically resolve 90 per cent problems of the merged areas and termed the formation of the forum as a step in the right direction.Earlier, the CEO SMEDA Fuad Hasham Rabbani highlighted in details the steps and initiatives taken by the authority for the development of SME sector in the country.Briefing the participants on different SMEDA-implemented projects in Khyber Pakhtunkhwa, he said the authority under the Multi-Donors Trust Fund (MDTF)-funded project Economic Revitalization of KP and Fata (ERKF) has grants to the tune of millions of rupees for the rehabilitation of SMEs in both KP and erstwhile Fata. He said more projects were being planned for sustainable development in ex-Fata.Earlier, GM-Out-Reach SMEDA, Javed Iqbal Khattak thanked both UNDP and USAID for expressing confidence in SMEDA by making it implementing partner of the project. Similarly, he also thanked both federal and provincial organizations for their sincere steps for sustainable development of the merged districts.He said under the Letter of Agreement (LoA) signed with the UNDP, SMEDA will provide technical assistance in evaluating BusinessDevelopment Plans of 4,350 entrepreneurs from NMDs.These entrepreneurs will receive business support through the provision of in-kind grants.These grants will help returnees re-establish businesses, expand existing businesses or establish new business in Khyber, South Waziristan and North Waziristan districts.

from The News International - Peshawar https://ift.tt/349sGgj
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