United Bank Limited (UBL) and Sindh Enterprise Development Fund (SEDF) have inked an agreement for institutional cooperation to offer discounted loans to small and medium enterprises (SMEs) in Sindh province for promoting investments. UBL will provide much-needed project finance to SMEs and the agricultural sector, and the SEDF will give markup subsidies on loans provided by the bank.

This partnership will benefit all parties involved and create an environment that will encourage investments in the province. Special Assistant to Chief Minister of Sindh for Investment Department and Public-Private Partnership Projects Syed Qassim Naveed Qamar chaired the signing ceremony. Speaking on the occasion he said, “This is a step towards financial inclusion of a neglected yet vital segment of the economy with a focus towards modernization of the rural economy of Sindh, with a hope that it will pave the way for balanced growth and financial inclusion of women entrepreneurs.”

UBL President and Chief Executive Officer Shazad G. Dada, who signed the agreement said: “UBL’s vision is to support the SMEs and the agriculture sector of Pakistan, and in particular to empower the young entrepreneurs of our country so as to unlock their full economic potential.” He added that agriculture and SMEs are the backbone of Pakistan’s economy, and UBL is proud to play a pivotal role in supporting these sectors by partnering with like-minded institutions such as SEDF.

Credit : Independent News Pakistan-WealthPk