USAID-backed framework for SMEs launched

PESHAWAR: The USAID-supported Strategic Partnership Framework (SPF) for Small and Medium Enterprises (SMEs) was launched here on Tuesday.

A press release said the framework was officially launched by the US Consul General in Peshawar, Shante Moore, and the Government of Khyber Pakhtunkhwa’s Chief Economist, Arifullah Awan.

The framework was developed in collaboration with the United Nations Development Programme (UNDP) and the Planning and Development Department of the KP government.The communication termed the step a milestone in fostering a sustainable and inclusive economic environment in the region.

It said the framework was expected to improve coordination between public and private sectors, development partners, and academia to enhance economic growth and attract private sector investment.The focus will be on supporting the small and medium enterprises as drivers of innovation and employment in the province.

In his address, the American consul-general reaffirmed the US government’s commitment to advancing inclusive economic development in Pakistan, with a special emphasis on KP.He highlighted the partnership between the US government and Pakistan in promoting sustainable growth and empowering local economies.

The US diplomat said the framework was a testament to the transformative potential of collaboration. “By uniting diverse stakeholders, it aligns seamlessly with the government of Khyber Pakhtunkhwa’s vision for a resilient and inclusive economy,” he added.

Shante Moore said the US government, through USAID, takes pride in supporting this initiative, which not only strengthens the SME sector but also lays the groundwork for a robust and self-sustaining economic environment in the region.