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January 16, 2020

Business incubation programme launched for KP youth

Islamabad

January 16, 2020

Islamabad : A business incubation programme for youth of the Newly Merged Districts of Khyber-Pakhtunkhwa (KP) was launched here Wednesday in the presence of government officials, representatives of USAID, UNDP, The Indus Entrepreneurs (TiE) and young entrepreneurs.

Business incubation services will be provided to 180 aspiring entrepreneurs including 54 women from Khyber, North and South Waziristan districts.

The programme will provide technical assistance in the form of mentoring, coaching and training. The young entrepreneurs will go through one-month incubation training, followed by a grant provision/distribution after approval of their business ideas. The programme is implemented by TiE Islamabad in partnership with United Nations Development Programme (UNDP) under the USAID funded FATA Economic Revitalisation Programme (FERP).

Speaking on the occasion as chief guest, MNA and Chairperson of Commonwealth Women Parliamentarians Shandana Gulzar Khan said, “The true essence of economic and social development lies in empowerment of all communities in a region, in particular those that have been “left behind”- the exact opposite of SDG 2030 agenda which is to “leave no one behind.” She hope that the initiative will nurture a cycle of inclusive economic growth and prosperity, leading to a self-reliant and successful socio-economic paradigm for Pakistan.

Activity Manager USAID Wasim Bari, said, “FERP will provide sustainable income generation and livelihood opportunities to returnees of the region who were displaced due to the former security situation. All the components of the business incubation programme including business development grants, investment capital, and skills training provided to potential beneficiaries from the newly merged districts of KP are equally important. To increase the size of the economy, we should always support and invest in incubation ventures that unlock the prospects for self-employment and economic growth.”

Programme Officer UNDP Mustafa Mehmood stated, “This incubation programme will help unleash the potential of youth and entrepreneurship opportunities in the newly merged districts of KP. We, along with our partners, believe that the collaboration of both government and private sectors in such ventures will lead to more prosperous prospects.”

“TiE, with its extensive experience of contributing to the entrepreneurial landscape of Pakistan, is very proud to have partnered in enabling the youth of the newly merged districts of KP to form successful business models that will lead to sustainable economic growth in these areas,” said, Zeeshan Bin Shahid, Executive Director of TiE.