The United Nations Development Programme (UNDP) and the National Bank of Pakistan (NBP) recently signed an agreement in Islamabad to increase awareness about and access to finance among youth under the Prime Ministers Youth Business Loan Scheme (PMYBL).
Former and present Pakistani participants in UNDP’s vocational and business training programmes will now have a chance to receive affordable credit from NBP to start small businesses.
The memorandum of understanding was signed by Neil Buhne, United Nations resident coordinator for UND, and NBP CEO Saeed Ahmad, according to an UNDP press release.
They will be invited to information sessions conducted by NBP and successful applicants will be eligible for loans starting from PKR 100,000 up to PKR 2,000,000. Such sessions will be held in Peshawar, Dera Ismail Khan and Bannu in Khyber Pakhtunkhwa, Quetta in Balochistan, and Karachi in Sindh. (DS).