SEDF and Sindh Bank join forces to boost SMEs

By Our Correspondent
August 20, 2024
Representational image shows a worker operating a machine to prepare fabric at a textile mill in Lahore on July 20, 2023. — AFP
Representational image shows a worker operating a machine to prepare fabric at a textile mill in Lahore on July 20, 2023. — AFP

KARACHI: The Sindh Enterprise Development Fund (SEDF) and Sindh Bank Limited have announced a strategic partnership aimed at empowering Small and Medium Enterprises (SMEs) in the province.

The collaboration, formalized through an institutional agreement, was unveiled at a ceremony attended by key officials from both organizations.Khizar Pervaiz, CEO of the SEDF, expressed optimism about the partnership, highlighting its potential to drive economic growth in Sindh. The fund will provide markup subsidies to SMEs to stimulate business expansion.

Muhammad Anwaar Sheikh, CEO of Sindh Bank, emphasized the bank’s commitment to making financing accessible to SMEs, including those in agriculture and IT sectors. The collaboration with SEDF, he added, will significantly reduce the cost of financing for these businesses.