Daily Times

In a significant move to strengthen women-led enterprises, the United States government, through the U.S. Agency for International Development (USAID), the United Nations Development Program (UNDP) and the Sarhad Rural Support Program (SRSP) Thursday unveiled an initiative here the other day aimed at nurturing women-owned businesses in Khyber Pakhtunkhwa and the merged areas.

This transformative program is set to offer interest-free microfinance loans coupled with comprehensive business management training to 2,000 women entrepreneurs, designed to cultivate a vibrant ecosystem, the initiative is dedicated to enhancing financial literacy, business acumen, and networking opportunities for women, thereby fueling the resurgence of local economies in the flood-stricken districts of Nowshera and Swat in Khyber Pakhtunkhwa.

“The launch of the microfinance initiative for women-led businesses in flood-affected districts is a testament to our collective commitment to advancing economic growth and building a brighter future for Pakistan,” said Shante Moore, Consul General at the United States Consulate General in Peshawar, in a virtual address. “This initiative is not just a reflection of our partnership but also a step forward in our shared journey towards empowerment and equality.”

The initiative builds on the success of the USAID-funded FATA Economic Revitalization Program (FERP), which has assisted women-led businesses through business management training and grants. FERP has been instrumental in broadening access to finance for Micro-, Small- and Medium-sized enterprises, and in creating avenues for better employment through financial assistance, workforce development and business support packages.

The program has also played a crucial role in assisting the Government of Khyber Pakhtunkhwa for formulating gender-responsive investment promotion strategies, enhancing SMEs’ access to credit, and fortifying government service delivery through capacity building in monitoring and evaluation.

“UNDP Pakistan is committed to addressing systemic barriers to women’s empowerment by advocating for gender-responsive policies, promoting women’s leadership across all spheres and ensuring their voices are integral in decision-making processes,” emphasized Mustafa Mahmood, Assistant Resident Representative and Unit Head, Crisis Prevention and Inclusion, UNDP Pakistan.