Latest news with #GRASP
Business Recorder
31-07-2025
- Business
- Business Recorder
PPAF for providing more financial resources to SMEs
ISLAMABAD: The Pakistan Poverty Alleviation Fund (PPAF) has underscored the need for providing more financial resources to the small and medium enterprises (SMEs), arguing that the sector was contributing an estimated 40 percent to the national GDP and account for nearly 80 percent of employment in the non-agricultural sector. In an official communiqué, the PPAF has argued that access to finance remains a critical lever for inclusive economic development, particularly for SMEs, which serve as the backbone of Pakistan's economy. Citing a report of the State Bank of Pakistan (SBP), it said that despite this central role, the sector remains starved of formal financial services, limiting its potential to drive innovation, productivity, and employment growth. As per the SBP's quarterly performance review of the banking sector (Q1 2024), only 6.3 percent of total private sector credit is directed towards SMEs, reflecting a deeper structural mismatch in Pakistan's financial landscape. The reasons are well-documented as SMEs typically lack formal credit histories, possess inadequate financial documentation and struggle to meet collateral requirements. A large number remain outside the formal registration net. Financial institutions tend to offset their risks through rigid risk-assessment models that exclude smaller, informal enterprises and have historically favoured the large corporates whilst investing mostly in government instruments. In rural and semi-urban areas, the challenges are compounded by limited banking infrastructure, weak market linkages, and higher exposure to climate and seasonal risks. While several initiatives have been launched in recent years to address this gap, their impact on expanding access to finance for small and medium enterprises has been limited. Much of the support remains urban-centric and heavily reliant on financial channels that are not fully adapted to engage with new or informal borrowers. As per the World Bank's 'Pakistan Development Update' (April 2024), only 24 percent of SMEs in Pakistan report having access to formal financial services, compared to a South Asian average of over 35 percent. A reality like this calls for more adaptive models, grounded in local realities and designed to strengthen the full enterprise ecosystem. To address the issue, the International Trade Centre (ITC) in partnership with PPAF with the financial support of European Union (EU) is working on the Growth for Rural Advancement and Sustainable Progress (GRASP) project which marks a meaningful shift towards more inclusive, ground-up approach that is tailored to the needs of small and medium enterprises. The project is aimed at improving the access to finance while addressing critical barriers across the business cycle. At the core of the project, the PPAF is committed to poverty reduction through community-driven development. GRASP is in line with PPAF's vision; through its integrated approach it links financial inclusion with enterprise development, skills training, market connectivity, and promotion of green technologies. The access to finance component of the project is further divided in two categories and performance-based matching grants and strengthened linkages with formal financial institutions. While matching grants supports SME growth through co-financed approach, institutional linkages offer entrepreneurs access to larger credit lines, tailored to their business needs and repayment capacity. According to project records, GRASP has signed MoUs with 25 financial institutions bringing them on board for the latter component. These partnerships not only help getting affordable credit but, in some cases, also extend insurance coverage protecting farmers, their land and livestock from climate-induced shocks and unforeseen natural hazards. These efforts are complemented by business coaching, financial literacy training, and enterprise development services equipping SMEs with the skills to manage finances, maintain records, develop business plans, and engage effectively with financial institutions. According to data reviewed from project reports, a total of 378 SMEs, 39 percent of which are women-led, have received performance-based matching grants amounting to almost Rs848 million; whereas, 415 SMEs have developed linkages with financial institutions translating in loans worth more than Rs739 million. As Pakistan looks to foster inclusive and resilient growth, tapping into the vast potential of SMEs is essential. GRASP offers a practical blueprint: one that shows that improving access to finance requires enabling ecosystem that supports entrepreneurs, not just disbursing loans. The model offers valuable insights for national policy: prioritise blended financing, strengthen public-private collaboration, and tailor products to local needs. In parallel, at the macro level, Pakistan's growing digital and financial landscape transformation presents further opportunities to expand inclusion particularly for Tier-2 and Tier-3 cities. FinTechs, alternative or AI-based credit scoring, and mobile wallets can play a critical role in extending services to un-banked SMEs. But for these solutions to scale, enabling regulation and robust digital infrastructure must follow. By empowering SMEs, especially in rural Pakistan, easy access to finance can become the cornerstone for a more equitable and prosperous future. With continued innovation and commitment, these enterprises can shift from being underserved to becoming the true engines of national development. Copyright Business Recorder, 2025
Business Recorder
28-06-2025
- Business
- Business Recorder
HCSTSI team participates in ‘Financing Agreement Signing' ceremony
HYDERABAD: A high-level delegation of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI) participated in the 'Financing Agreement Signing Ceremony' and the event organized in connection with the Global Micro, Small and Medium Enterprises Day (MSMEs Day). The delegation was led by Acting President Ahmed Idrees Chohan, who was invited as the Chief Guest at the prestigious event. The program was organized by the Sindh Agricultural and Forestry Workers Coordinating Organization (SAFWCO) under the Growth for Rural Advancement and Sustainable Progress (GRASP) project, aimed at supporting and financing MSMEs. On this occasion, selected SMEs were awarded grants of Rs. 10 million and Rs. 20 million. While addressing the ceremony, Ahmed Idrees Chohan highlighted that the Global MSMEs Day, observed annually on June 27 under the United Nations, serves as a reminder that small and medium enterprises are the backbone of any economy. In a developing country like Pakistan, MSMEs are key drivers of employment, innovation and economic sustainability. He appreciated the efforts of SAFWCO, GRASP, European Union (EU), International Trade Centre (ITC), Pakistan Poverty Alleviation Fund (PPAF) and other partner institutions for making financial support for SMEs a reality and celebrating the day with full spirit. Copyright Business Recorder, 2025
Business Recorder
23-06-2025
- Business
- Business Recorder
SAFWCO conducts capacity-building training sessions for rural people
HYDERABAD: The Sindh Agricultural and Forestry Workers Coordinating Organization (SAFWCO), in partnership with the Pakistan Poverty Alleviation Fund (PPAF), successfully conducted a capacity building training session for borrowers under the Access to Finance (A2F) component of the Growth for Rural Advancement and Sustainable Progress (GRASP) initiative. The session was held at the HID Hall of SAFWCO's Head Office, Hyderabad. The GRASP project is funded by the European Union (EU) and implemented by the International Trade Centre (ITC) in collaboration with PPAF, the Food and Agriculture Organization (FAO), and the Small and Medium Enterprises Development Authority (SMEDA). The initiative aims to strengthen rural agribusinesses across Sindh & Balochistan by enhancing financial literacy and improving access to finance. The training was conducted by Ms. Shabana Mallah, Manager Trainings at SAFCO Microfinance Company Limited (SMCL), and coordinated by Rajkumar Lohano, A2F Specialist at SAFWCO. A total of 12 participants; 5 women and 7 men, took part in the session. They represented micro-enterprises engaged in livestock, pickle production, banana fiber, and mango orchards, and came from areas including UC Tando Qaiser, UC Chuki, and UC Sawan Khan Gopang. This highly interactive, activity-based training covered essential areas such as financial literacy, loan management, entrepreneurship and business skills, digital literacy, and legal and consumer rights awareness. A motivational video on entrepreneurship was also shown to inspire participants to strengthen their skills and grow their businesses. Dr. Suleman G. Abro, Founder and Executive Director of SAFWCO, gave the inspiring session by personally engaging with each participant discussing their business challenges, listening to their stories, and offering innovative ideas for growth. He encouraged them to adopt by-product strategies to increase income, create strong market linkages for better pricing, and unite as a business community to drive collective progress. 'Together, you can bring huge change in your lives,' said Dr. Abro. He emphasized the importance of resilience, understanding customer needs, and maintaining honesty and integrity in business. He also urged the participants to innovate by introducing new products to meet market demands. Copyright Business Recorder, 2025
Business Wire
09-06-2025
- Business
- Business Wire
BostonGene's Multiomic AI Platform Uncovers Therapeutic Targets in Invasive Lobular Carcinoma, Wins GRASP Advocate Choice Award at ASCO 2025
BUSINESS WIRE)-- BostonGene, a leader in AI-powered solutions for drug discovery and development, today announced that its poster at the 2025 American Society of Clinical Oncology (ASCO) annual meeting has received the GRASP Advocate Choice Award. The poster, titled ' Macroscale Genomic Alterations in Histomolecular Invasive Lobular Carcinoma Compared to Other Breast Cancer Subtypes,' was presented by Jason Mouabbi, MD, of The University of Texas MD Anderson Cancer Center, on June 2, 2025. "It also highlights the role of multiomic data in informing trial design, optimizing patient selection, and accelerating the development of precision oncology therapeutics.' In collaboration with MD Anderson, BostonGene applied its proprietary multiomic AI platform to profiles of over 600 patients, uncovering distinct histologic and molecular features of invasive lobular carcinoma (ILC)—a breast cancer subtype for which treatment decisions are often inferred from other subtypes. The study revealed previously under-characterized macroscale genomic alterations and biologic mechanisms, highlighting opportunities for precision-targeted therapies and novel drug development strategies tailored to ILC. These insights demonstrate BostonGene's unique capabilities to uncover disease-specific targets and enable data-driven decisions in clinical development. The GRASP (Guiding Researchers and Advocates to Scientific Partnerships) Advocate Choice Award recognizes research that is both scientifically meaningful and impactful to the patient community, as determined by cancer advocates. GRASP is a nonprofit, patient-led initiative that brings together researchers, clinicians and patients to foster scientific collaboration and accelerate innovation in cancer care. The 2025 GRASP event is held in conjunction with the ASCO Annual Meeting on June 11–12. 'We're incredibly proud to be recognized by the GRASP advocate community, which underscores the strength of our collaboration with MD Anderson and the real-world impact of BostonGene's AI-powered analytics,' said Nathan Fowler, MD, Chief Medical Officer at BostonGene. 'This study illustrates how our platform can uncover clinically actionable genomic insights and help reshape treatment paradigms for historically underserved cancer subtypes like ILC. It also highlights the role of multiomic data in informing trial design, optimizing patient selection, and accelerating the development of precision oncology therapeutics.' About BostonGene Corporation BostonGene helps drug developers de-risk and accelerate research and development using a clinically validated AI platform purpose-built for oncology and supported by a CLIA-certified and CAP-accredited clinical laboratory. By integrating advanced molecular and immune profiling with clinical data, we uncover actionable insights that inform trial design, optimize patient selection and improve clinical outcomes. Our diagnostic and treatment recommendation solutions are used in clinical settings to personalize care and guide therapy decisions for patients. For more information, visit
Zawya
10-02-2025
- Business
- Zawya
Juhayna's farm, Enmaa, succeeds in strengthening Its global presence at the Fruit Logistica Exhibition in Germany
Cairo – Juhayna Food Industries participated in the global Fruit Logistica exhibition, held in the German capital, Berlin, from February 5 to 7. This participation, through Juhayna's agricultural arm, Enmaa, reaffirms its commitment to innovation, sustainability, and quality while strengthening Egyptian agricultural exports. Enmaa's participation in Fruit Logistica aims to enhance its global presence, as the exhibition is the world's leading platform for fresh agricultural products. The event focuses on the entire value chain from producer to consumer, with a strong emphasis on innovation and smart farming. Enmaa showcased a range of its citrus produce, with a focus on oranges, as part of Juhayna's commitment to providing fresh, high-quality products to the global market. Enmaa serves as a model for sustainability and agricultural excellence. Established in 2008, the farm spans 7,686 acres in the Farafra region of the New Valley Governorate. The farm acts as the agricultural arm of Juhayna Food Industries, utilizing the latest eco-friendly farming techniques, including drip irrigation systems. Additionally, the farm has a live satellite system that collects data on irrigation and water usage, ensuring optimal resource utilization and enhancing crop productivity. Mohamed Hammad, External Markets Director at Juhayna Food Industries, expressed his pride in the company's participation in Fruit Logistica, saying: 'Our participation in this event aligns with Juhayna's strategy to fortify its role as a key contributor to the development of Egypt's agricultural sector. Through Enmaa, we are committed to delivering sustainable, high-quality products that meet the demands of both local and international markets. We embrace innovation and adopt best global practices to achieve sustainable agricultural development, while also supporting Egypt's agricultural sector and boosting exports.' He stated: 'The export of oranges is one example of how we are contributing to Egypt's growing reputation as a leading supplier of premium agricultural products. In 2024, Egyptian agricultural exports achieved an unprecedented milestone, exceeding 8.6 million tons, reflecting the exceptional quality and global competitiveness of Egyptian agriculture.' It is worth noting that Enmaa Farm has recently obtained various prestigious international certifications, including GLOBAL G.A.P. (Version 6.0 SMART), GRASP (Version 2.0), and SPRING (Version 2.0), underscoring its commitment to sustainable and responsible farming practices. The farm has also successfully passed the SEDEX international audit, further enhancing its export opportunities and positioning it among the world's most distinguished farms.
