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Citi has been actively promoting the development of microfinance in Pakistan for the past several years. It has worked in collaboration with a host of reputable NGOs and Micro Finance Institutions to spread the message of micro-credit and small-scale entrepreneurship in the country. As part of Citi’s ongoing commitment to the field of microfinance, it has announced that the Citi Foundation will continue its support to the Microentrepreneurship Awards program again this year, highlighting the achievements of some of the most innovative microentrepreneurs in Pakistan. This year, the Citi Foundation is committing a total over $750,000 to the Citi Microentrepreneurship Awards program across the 18 countries, where the awards will take place in 2009, including Pakistan.
Made possible in Pakistan through a US$55,000 grant from the Citi Foundation, the key aim of the MFAP is to illustrate and promote the effectiveness of micro-finance as a poverty alleviation tool and to celebrate the achievements of the most innovative microentrepreneurs in Pakistan. Most importantly it is a platform for engaging thought leaders in creating links between micro-finance networks across the country.
Launched in Lahore through a media conference, the ‘Citi-PPAF Micro-entrepreneurship Awards Program 2009’ will recognize and reward leadership, entrepreneurial skills and best practices of individual microentrepreneurs across Pakistan. Attended by PPAF and Citi Pakistan’s senior management, the launch included a presentation on the overall growth and development of the microfinance sector in Pakistan as well as the scope and objectives of the MFAP, a short movie on the role of Citi and PPAF towards the community as well as remarks by Huzoor Buksh and Kubra Asghar, who were two of the winners for the 2008 awards and were invited to share their experiences at the 2009 media launch.
A National Advisory Council comprising of well-placed and professional members has been formed to oversee the program and to interview short-listed candidates in the final judging round. The advisory panel this year includes Mr Asif Jooma, CEO Abott Laboratories and President of the American Business Council, Mr Mushtaq Chapra, Founding Member ofr The Citizen’s Foundation, Ms Ayesha Tammy, Senior Journalist and TV Presenter, Ms Maryam Riaz, Program Specialist USAID, Mr Saad Amanullah, CEO Gillette, Mr Mohsin Ahmed, CEO Pakistan Microfinance Network, Asad Umar, President & Chief Executive, Engro Chemical Pakistan Limited and Mr Mubashir Ali, Programme Director Social Enterprise Development Centre, LUMS amongst others.
The awards will be presented in the following categories this year: Best National Male/Female, Best Urban Male/Female, Best Rural Male/Female, Most Innovative Male/Female, Most Successful in Overcoming Adversity Male/Female. Moreover, we are aiming to add a few new awards this year namely, Best Internally Displaced Person’s Entrepreneur and Best Female Single Parent/Widow Entrepreneur to ensure that equal representation is given to women, IDP’s and other similar marginalized groups. There will be a runner up award for each category as well. Special recognition awards will also be given to Loan officers and representatives of Micro Finance Institutions. The awards ceremony is scheduled for November 2009 in Islamabad.
Speaking at the launch CEO PPAF Kamal Hyat said, “People all over the world have similar aspirations for gaining financial independence and sustaining their families; it is programs such as these which provide the first step in that direction. We are proud to work with Citi for the sixth year in a row on these awards and hope to continue doing so in the future.”
One of the winners from the 2008 CMA, Huzoor Buksh said, “Citi has transformed my life completely by granting me this award last year; I could not have even dreamt of standing in this five star hotel before – in fact would never have been allowed in. Today I am addressing such a large crowd and this is all a result of Citi’s efforts in the microfinance/poverty alleviation arena.”
Kubra Asghar, who won an award in 2008 for setting up a clothes rental boutique said, “From an extremely tiny tailoring unit in Punjab, I have managed to expand my clothes business across the various provinces of Pakistan; thanks to Citi’s generosity and efforts I am now earning a significant income and maintaining a decent standard of living. Most importantly, I have managed to educate my children by sending them to school.”
Citi Country Officer and Managing Director Arif Usmani said, “Citi’s support for these awards and to the microfinance arena at large, aims to create long-term, sustainable changes to poverty alleviation in Pakistan. The idea is to inculcate an entrepreneurial skill set amongst potential clients, rather than provide them with one-off funding. Such a forum allows best practices in the field to be shared amongst a host of stakeholders and we hope to conduct a successful program with PPAF once again this year.”
As we continue through 2009, Citi remains committed to enhancing economic opportunities for individuals and families so they can improve their standard of living, by providing support for programs aligned with its economic empowerment mission including: microfinance, small and growing business; education; financial education and asset building; and environmental sustainability.
The Pakistan Poverty Alleviation Fund (PPAF) represents an innovative model of public private partnership. Sponsored by the Government of Pakistan and funded by the World Bank and other leading donors, the PPAF has a resource base of over US$ 633.17 million.
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