News: CSF launching facility for micro enterprises
Name of Newspaper: The Post
Date of Publication: Friday, 04 July, 2008
URL:http://thepost.com.pk/CorpNewsT.aspx?dtlid=170253&catid=8

Associated Press of Pakistan

ISLAMABAD: The Competitiveness Support Fund (CSF) here on Thursday launched a brochure on its Business Incubator/Matching Grants Facility to promote its co-financing initiatives for micro enterprises in Pakistan.

The Business Incubator/Matching Grants Facility focuses on developing grant-based projects for up-gradation of economic competitiveness at a micro level, said a statement issued here on Thursday. This was done through providing financial assistance through a grant to support developing a knowledge-based enterprise sector in Pakistan, it added. CSF has estimated that more than $10.5 million (630 million rupees) of new investment would result from these projects for a total project cost of $2.8 million (168 million rupees). More than 90 new business and enterprises are expected to emerge from this initiative, creating more than 11,500 jobs in Pakistan.

Arthur Bayhan, Chief Executive Officer CSF stated that the fund board has already approved 10 innovative projects for implementation under its Matching Grants Window. "These projects are focused on providing the necessary finance for innovation, technology transfer, skill development, vocational training and women's development". The matching grant projects are mainly focused on agricultural and industrial clusters and associations and are being reached with projects from the Mohmand Agency in FATA to Quetta, Karachi and Lahore.