Finance Minister Commends NITL’s Social Impact Fund

The Managing Director of National Investment Trust Limited, Adnan Afridi, called on the Minister of Finance, Shaukat Tarin, according to a press release by the Finance Division.

Afridi commended the ongoing developments in the macro policy framework as they helped to stimulate significant growth in the asset management industry whereby the total assets under management crossed the Rs. 1 trillion mark in the outgoing fiscal year, posting a growth of nearly 65 percent year-on-year.

He also told Minister Tarin about the ongoing efforts of National Investment Trust Limited (NITL) in developing Pakistan’s first Social Impact Fund (SIF) which is dedicated to finance strategic and financially sustainable social initiatives such as women empowerment, agriculture value chains, micro, small and medium enterprises (MSME) development, low-cost renewable energy, and low-cost housing schemes through microfinance banks and institutions.

Afridi also highlighted the synergies that could be created between NITL’s SIF and the Kamyaab Pakistan Program (KPP).

The SIF and KPP will go hand-in-hand by introducing mission-oriented low-cost capital for the country’s lower-income strata via requisite assets supply and lending structures.

Minister Tarin praised NITL’s efforts in addressing the financial inclusion gap with innovative and pioneering platforms, and expressed his confidence that investors will be attracted to the SIF’s ‘double bottom line’ offering.

Source: Pro Pakistani