PPAF Funded Programmes
The principal objective of the PPAF Funded Projects is to intervene in areas affected either by natural disasters or conflicts. Under the PPAF Funded Projects resources are mobilized from different sources, funding is channelized towards areas where PPAF grant based interventions have not yet been initiated.
PPAF supported schools in different districts of Punjab, Sindh and Gilgit Baltistan through its own resources under the Education Component. Five POs were involved and all the projects were conducted from January 2016 until December 2016. Below is the division for each of their areas of focus.
|S.No.||PO Name||Project Areas||Children Supported|
|1||Mountain Institute for Educational Development (MIED)||Gulapur, Gahkuch, Gupis,Phander,Singul and Noh/District Ghizer/Gilgit||1,472|
|2||Badin Rural Development Society (BRDS)||Seerani/Badin/Sindh||279|
|3||National Rural Support Program (NRSP)||Bahawalpur,Rajanpur,Bukhar,Khushab and Dera Ghazi Khan/Punjab||4,634|
|4||Baahn Beli (BB)||Nagarparker & Pithapur/Tharparker/Sindh||617|
|5||Indus Resource Center (IRC) Phase I and II||Karachi, Jamshoroo, Dadu, Khairpur/Sindh||5,567|
PPAF, the United Kingdom’s Department for International Development (DFID) through Karandaaz and Germany’s development bank (KfW)
signed a Shareholder’s Agreement for the establishment of the Pakistan Microfinance Investment Company Ltd. (PMIC) under which they
decided to co-invest in PMIC.
The coalition between the three shareholders was based on the initial equity investment of Rs.6 billion with 49% contribution by PPAF, 37% by Karandaaz and 14% by KfW. Through this division, PPAF invested Rs.3,000 million while DFID invested £15 million and KfW €7 million.
Following PPAF’s institutional values and, the company continued to follow the double bottom-line approach of financial sustainability and positive social impact. The coalition is further effective because where PPAF is able to bring in its expertise, credibility and local experience of working with the retail microfinance sector of Pakistan, DFID and KfW bring in international experience and resources imperative in accessing additional sources of funds, both domestically and internationally.
The mission of Pakistan Microfinance Investment Company Ltd. was structured to provide financial and institutional services to strengthen and scale up the provision of sustainable and responsible access to finance to individuals, micro entrepreneurs and micro enterprises in Pakistan. This is resulting in enhanced employment and income opportunities for economically poor and vulnerable citizens of the country.
Given the needs of the Microfinance sector, PPAF took the timely decision to spin-off its Financial Services Group, which manages PPAF’s microfinance component into a new independent Microfinance Apex entity (Pakistan Microfinance Investment Company Ltd.). Most key stakeholders including the State Bank of Pakistan, Pakistan Microfinance Network and retail service providers endorsed this decision. Pakistan Microfinance Investment Company Ltd. also received full support and endorsement from the Government of Pakistan. (For more information visit http://pmic.pk/)