August 02, 2006	Wednesday	Rajab 6, 1427

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ISLAMABAD, Aug 1: The Pakistan Poverty Alleviation Fund (PPAF) on Tuesday committed an additional Rs4.2 billion ($70 million) for combating poverty in the country. The funding encompassed micro credit, enterprise development, community physical infrastructure and capacity building. It also covered reconstruction of rural housing and infrastructure including health and education facilities in earthquake affected areas.

According to a statement issued here, the 40th meeting of the PPAF board of directors approved Rs1.7 billion for rehabilitation and reconstruction in the earthquake affected areas, Rs309 million for micro credit, Rs255 million for community physical infrastructure and Rs115 million for capacity building, health and education sectors.

The meeting also approved an agreement with a German development bank for Rs1.1 billion for reconstruction of rural housing and infrastructure in earthquake affected areas of NWFP. It authorised PPAF to enter into an agreement with the committee to encourage corporate philanthropy of the US for Rs732 million for building and operating health and education facilities in affected areas of AJK and NWFP.

An amount of Rs6.2 billion ($103 million) was disbursed by PPAF to poor communities across the country during 2005-06 out of cumulative disbursements of Rs15 billion ($250 million).