November 19, 2002	Tuesday	Ramazan 13, 1423

ISLAMABAD, Nov 18: Agricultural Development Bank of Pakistan (ADBP) has reinforced its priority for increased and expeditious financial assistance for rural poor, specially the women through micro credit scheme.

According to ADBP statement, the bank under this scheme during July-Sept 2002 disbursed Rs13.872 million for self-employment income generating activities.

Micro credit facilities are provided to rural poor against one personal surety, mortgage of movable and immovable securities and against the security of gold/gold ornaments by male and female mobile credit officers serving both men and women.

Main categories of activities covered under the scheme are food processing like processing of grains, fruits and vegetables, dairy products, manufacturing of sweets, vermicelli, etc., garment making, wool and lace making, silk cloth weaving, production of footwear and other leather products, wood and cane products, chemical products like soap making and cropping of herbal/medicinal crops, pottery/earthenware, metal production like small farm implement manufacturing, cutlery making, etc., handicrafts, production general services and farming.

Maximum loan limit under micro credit is Rs25,000. Mark up rate is 18 per cent with 2 per cent rebate on timely repayment of loan.

Micro credit scheme was launched in July 2000 to engage rural poor in financially rewarding activities in agricultural and rural micro enterprises. The scheme is operational in all the branches of ADBP assisted by male and female mobile credit officers serving both men and women.

The new initiative aims at encouraging savings habit and promote local skills among the rural poor through financing of loan for productive activities in the villages. The MCO has been authorized to identify villagers with local skills to come forward and benefit from the ADBP programme.

Saving attitude is being promoted to qualify for the loan. Special emphasis is being given to opening of saving accounts of the borrowers. Deposit made by the borrowers also form a part of guarantee and as a token of security.