UNDP, SMEDA join hands for merged districts uplift

PESHAWAR: The United Nations Development Programme (UNDP) has signed a letter of agreement with Small and Medium Enterprises Development Authority ((SMEDA), Pakistan for forming Economic Cooperation and Development Forum in the merged districts.

According to a press release issued here on Friday, the overall objective of the forum is to facilitate collaboration and partnership between different institutions/organizations and to reflect on ways to enhance investment of private sector companies (businesses and financial institutions) into the tribal districts of KP.

It will comprise of 40 experts on economic development and private sector investment, including representatives from the government, the business community, banks and micro-finance institutions, think-tanks, policy makers, academia as well as develop partners. The forum will provide a platform to explore avenues to facilitate private sector investment leading to sustainable economic growth in these areas. The SMEDA will provide technical assistance in evaluating Business Development Plans of 4,350 entrepreneurs from merged districts.

These entrepreneurs will receive the business support through the provision of in-kind grants. These grants will help returnees re-establish businesses, expand existing businesses or establish new business in Khyber, South Waziristan and North Waziristan districts.

These interventions are part of USAID-funded FATA Economic Revitalization Programme (FERP), which means to provide sustainable livelihoods, and income opportunities leading to long-term economic growth and contributing to resilience and economic revitalization of the newly merged districts of KP.