September 22, 2007	Saturday	Ramazan 09, 1428

ISLAMABAD, Sept 21: The World Bank is most likely to fund the third programme of Pakistan Poverty Alleviation Fund (PPAF) to help reduce poverty and ensure a positive impact on the lives of the poor and their families.

“Following the successful experience of PPAF-I and the ongoing PPAF-2, the World Bank is interested in doing the third project also,” said chief executive PPAF, Kamal Hyat, in an interview.

“A team from the WB will be visiting Pakistan in November this year for the final appraisal of PPAF programmes which would be followed by the launching of third project by the end of 2008,” he said.

He expressed the hope that funding for the third PPAF programme would be doubled, adding that WB had provided $90 million for the first PPAF and $238 million for the second one.

“We expect the WB to provide $576 million for the next project,” the PPAF chief executive remarked, adding that it was the only institution in South Asia which has been rated AAA.

He said that the next programme would be launched by the end of year 2008 following the completion of second programme. The cumulative disbursement of the PPAF stands at $533 million adding of which $260 million were disbursed through micro-credit facility.

Being the lead apex institution, he said, the PPAF has disbursed $1.5 million micro-credit loans with 100 per cent recovery adding that it has a borrowers’ base of 1.3 million with 55 per cent women.

He said that as many as 9 million people have been impacted by credit and 6 million by infrastructure, health and education sectors.

Mr Hyat said the PPAF has 91 education and health facilities and 14,000 community physical infrastructure projects all over the country, adding that 205,000 individuals have been trained through 6,300 training and skill development events so far.

He said that the Alleviation Fund will cover 90 per cent of the villages in next 5-6 years to develop infrastructure and provide micro-credit facilities to the people.

Over the last seven years, he said, the PPAF has increased its outreach to 111 districts and 27,500 villages besides forming 66,000 communities in the nook and corner of the country.

Quoting the Gallup Pakistan Survey, he said, the PPAF helped enhance 21 per cent in the personal income of the borrowers, 13 per cent in the household incomes, 19 per cent in average expenses on household consumption, 14 per cent increase in food item consumption and 16-26 per cent in assets.