JS Bank and UNDP Pakistan sign a MoU for Microentrepreneurial Growth to Enhance Youth Empowerment
27th March 2019; Islamabad, Pakistan: The United Nations Development Programme (UNDP) Pakistan and JS Bank, signed a Memorandum of Understanding (MoU) to develop a framework for supporting micro entrepreneurial initiatives initiated under the framework of the UNDP’s Kamyab Jawan – Youth Empowerment Programme (YEP).
The Kamyab Jawan – Youth Empowerment Programme is supporting the Government in developing innovative and sustainable entry points for the social and economic engagement and empowerment of young people in Khyber Pakhtunkhwa and Sindh. One of the key components of the programme is to support young motivated micro-entrepreneurs because entrepreneurship is the most viable option not just to create employment for youth but to spur economic growth in the country.
Under this MoU, JS Bank and UNDP will work together to enhance the business management skills of existing and aspiring young micro entrepreneurs in the regions of Sindh and Khyber Pakhtunkhwa as well as educate them on the availability of relevant financial products. Efforts will also be made to provide the right financial offerings to interested and relevant customers.
Commenting on the occasion, Tahir Sheikh, Group Head – Investment Banking & Emerging Business JS Bank said, “The Bank has a well-thought strategy for undertaking grass root support for entrepreneurs and promoting financial inclusion amongst the masses. This new alliance is a far reaching step along this path and we foresee this as having a highly beneficial long term impact.”
Ignacio Artaza, Resident Representative a.i. UNDP Pakistan said “UNDP aims to improve socio-economic status of the Youth by providing them with skills that increase their employment options and encouraging micro-entrepreneurship. Ensuring the financial inclusion of youth is a national priority and this partnership will provide a useful framework for that.”
Both parties expressed their hope that this was only the beginning of a productive and beneficial partnership between the two.
About JS Bank:
JS Bank is one of the fastest growing banks in Pakistan, with 345 branches in 172 cities. The Bank also has an international presence and is a leading player in the digital banking space. JS Bank has received the prestigious award for Best Environmental and Social Governance Bank at the Pakistan Banking Awards 2017. The Bank is part of JS Group, one of the Pakistan’s most diversified and progressive financial services group. For more information, please visit http://www.jsbl.com.
UNDP partners with people at all levels of society to help build nations that can withstand crisis, and drive and sustain the kind of growth that improves the quality of life for everyone. On the ground in nearly 170 countries and territories, we offer global perspective and local insight to help empower lives and build resilient nations.