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Helping hand: US to support SMEs in Pakistan: Hale


4/13/2018

ISLAMABAD: Small and medium enterprises (SMEs) help create jobs and expand economy, said US Ambassador David Hale as he joined the Minister of State for Information Technology and Telecommunication Anusha Rahman in Islamabad on Thursday to launch the USAID-supported Challenge Fund.

Implemented by USAID’s Small and Medium Enterprise Activity, the Challenge Fund will support the growth of small and medium-sized enterprises (SMEs) in the hospitality and Information Communications Technology (ICT) sectors.
 
The fund will also incentivise the development and diffusion of innovative, scalable business ideas that will benefit both the private sector and consumers.
SMEs and political manifestos
 
Ambassador Hale said: “America is committed to cultivating small and medium sized businesses in Pakistan, creating jobs, fostering entrepreneurship and expanding the country’s economy. We are confident that the small seeds planted through this programme will help transform ideas into profitable realities.”
 
Anusha Rahman appreciated USAID’s efforts to support economic growth initiatives in Pakistan.
 
The USAID-supported Challenge Fund provides funding opportunities to startups and SMEs through two grant programmes.