Lahore March 17 2022: The Bank of Punjab (BOP) has signed a loan agreement of PKR 750mn with Thardeep Microfinance Network (Thardeep) under the aegis of Kamyab Pakistan Program (KPP). BOP’s Group Chief CIBG, Mr. Farid Ahmed Khan, and Mr. Sono Khangharani, CEO Thardeep signed the agreement.
Through this arrangement , BOP will lend Thardeep a subsidized long term loan facility amounting to PKR 750 million under the KPP framework to provide interest free loans for micro entrepreneurship, agriculture finance and low-cost housing finance for the underserved segments of the society. This is the first KPP facility provided to an institution in Sindh province and ties in with the Government’s agenda for providing access to microcredit for the under-served parts of the country in general and Sindh in particular.
Speaking at the occasion, Mr. Farid Khan, said, “This is the first and biggest facility under KPP framework to any Sindh based MFI. We are optimistic Thardeep will use this facility towards our shared vision to facilitate micro entrepreneurs and farmers for financial inclusion and poverty alleviation.”
Dr. Sono Khangharani said they are happy the Government has taken the initiative of providing interest free and subsidized financing to marginalized segments, particularly those in the rural areas. He thanked BOP for providing the opportunity to better serve the marginalized segments of the rural Sindh.
The ceremony was held in Karachi and witnessed by the senior management of both institutions. From BOP, Mr. Khawar Shahid Ansari (GH – Treasury & Fis), Mr. Saqib Sajjad (Head – Fl & CB) and other team members were present. From Thardeep, Mr. Ali Abbas Sikandar, Director, Mr. Parsa Pathani, GM Operations and other senior members of the management attended the ceremony.
