Project of economic recovery completed

An exclusive project for economic recovery in 29 districts of Pakistan, which were affected by flood in 2010, has been completed.
Small and Medium Enterprises Development Authority (SMEDA) have performed the task with assistance from EU and UNDP. This was revealed here on Friday in a presentation by SMEDA.
The project, since its start in July 2011, provided Rs. 189.9 million in grant to 11,928 individuals and 116 organisations for restoration of their enterprises and livelihood.
The presentation revealed that Rs. 30,000 in grant per enterprise was provided to entrepreneurs for overall economic development of areas affected by flood. Businesses engaged in trade of agriculture and livestock inputs, processing of local materials and marketing of produce were given priority.
The grants enabled selected entrepreneurs to stabilise their businesses and play their due role in supporting local economic activity and providing requisite goods and services.
Realizing the importance of home based income generating activities, there was a special focus on enterprising females supporting their families. Over Rs. 38 million in grant was disbursed among 3,106 women engaged in micro food processing, micro farming and needle craft.
Financial aid has given these females hope and they are confident that they can make a positive contribution to income generation for their household, it said.
It further said that Rs. 43 million was dedicated for a segment of society who cannot help themselves. Widows, elderly people, orphans and marginalized individuals were identified on the basis of poverty score and provided with Rs. 7,120 each, creating opportunities for micro investments. More than 6,000 individuals benefited from it.
Disbursement of Rs. 163 million to around 12,000 people was a big achievement for this project, it further said. They are looking forward to additional support and facilitation for a more inclusive economic development, it added.