ISLAMABAD, Pakistan: A Memorandum of Understanding (MoU) has been signed between SMEDA and the International Trade Centre (ITC) to reduce poverty by strengthening small-scale agribusinesses in Pakistan in Islamabad on Wednesday.
The selective activities of the European Union-funded project ‘growth of rural advancement and sustainable progress (GRASP)’ will be jointly implemented by SMEDA and ITC in Balochistan and Sindh provinces.
Speaking on the occasion, the Federal Minister for Industries and Production Syed Murtaza Mehmud expressed hope that with the implementation of the GRASP, the project will help unlock the potential in livestock, dairy and horticulture sectors and urged to expand the programme to the other areas of Punjab, KPK and FATA.
The minister said the project is expected to facilitate access to credit for medium, small, and micro rural enterprises through relevant market actors in the ecosystem and contribute to the betterment of business environment surrounding SME’s.
The project will help small and medium-sized enterprises in horticulture, livestock and dairy as Pakistan is the 5th largest milk producer Country in the world, he added.
The GRASP project is likely to complete in six years at the cost of US$ 1.8 million and ensure the provision of a congenial business environment to small farmers, besides providing grants and technical assistance to improve value chain, yield, quality, access to market information and improvement in standards.
The Federal Secretary of Ministry of Industries and Production Imadadullah Bosal, officials of SMEDA and ITC were also present in the meeting.