Financial services

Low Cost Private Schools: PMIC Committed to Providing Financial Services – Pakistan

ISLAMABAD: Pakistan Microfinance Investment Company (PMIC) is committed to providing financial services to private schools at low cost, providing quality education to 30,000 children in South Punjab.

Speaking to Business Recorder, the CEO of Pakistan Microfinance Investment Company, Yasir Ashfaq, said on Thursday that the PMIC is setting up its resources to improve the management capacity of school owners and the teaching skills of teachers, thereby improving the quality of education in the country.

In this regard, a three-year Education Quality Program has been launched to improve the quality of education in South Punjab. The initiative will help over 500 teachers and school owners, while benefiting 30,000 children in South Punjab. The program will focus on improving the quality of education through capacity building and improving the skills of school owners and teachers, as well as providing school loans.

The CEO of PMIC further informed that the company has signed a Memorandum of Understanding with Opportunity International to launch a three-year Quality Education Program. The signing ceremony was also attended by the CEO of Agahe, RCDP and Taleem Finance Company Limited, which are the implementing partners of PMIC and OI for this program.

Yasir Ashfaq, CEO of PMIC, said the initiative is a step forward in PMIC’s journey towards its triple bottom line goals and we are extremely excited to partner with Opportunity International.

Mathieu Fourn, Director of Opportunity Education Finance, expressed his gratitude for the support offered by the PMIC and shared the plans for implementing such a large program. OI has partnered exclusively with PMIC to launch this one-of-a-kind initiative which is currently being successfully carried out in 7 other countries and we look forward to the execution of the program in Pakistan.

Nana François, CEO of Opportunity International said she was delighted to be part of the ceremony and to strengthen the bonds created between the two institutions through the partnership. PMIC and Opportunity International have previously collaborated on a similar initiative, and we are keen to partner again on a more comprehensive program this time around, and outreach to PMIC will allow us to achieve the desired program goals, added Francois.

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