The Pakistan Poverty Alleviation Fund (PPAF), a non-profit company, has signed an equity fund agreement with the Jinnah Welfare Society (JWS) for providing microfinance to the poor and unbanked small entrepreneurs in Gujranwala. The agreement was signed between the PPAF and the JWS, under which PPAF would inject 60 percent equity of the total mount agreed while the JWS has already generated 40 percent of the equity. PPAF CEO Qazi Azmat Isa, JWS CEO Qazi Shoaib Babar, PPAF Senior Group Head Ahmad Jamal, PPAF Group Head Zafar Sabri, Pakistan Microfinance Network CEO Syed Mohsin Ahmed witnessed the signing ceremony. Speaking on the occasion, CEO PPAF said the initiative would help to assist partner organisations in strengthening their balance sheet to get access to funding through commercial sources.
