Karandaaz and Meezan Bank has signed an agreement to inject 9 Billion PKR as an investment in small and medium enterprises of Pakistan.
Today the two entities Karandaaz and Meezan bank signed a first of its kind agreement. This agreement will feed in positive effect on the growth of small and medium businesses and is aimed at providing growth capital for the latter.
This agreement will provide program-based term funding for capital investment and also for expansion of the businesses. The amount of the agreement is PKR 9 Billion.
Karandaaz is a recently established private company with core focus to promote access to finance for small businesses through a commercially viable investment platform and by employing technology-enabled digital solutions.
Agreements like these are now a core need for Pakistan and its economics well-being. As there is a positive boom in the small and medium enterprises, on-line businesses and startups. The financial support such as this one can up bring more ideas, innovations and above all young new blood to lead the nation and business sector.