Unilever Pakistan, a member of the British-Dutch Unilever consumer goods group, and the National Rural Support Programme (NRSP), a nonprofit organization providing microcredit to rural Pakistanis, recently agreed to provide entrepreneurial assistance to indigent microentrepreneurs. The first phase of the project will benefit 50 entrepreneurs recommended by NRSP, who will receive microfinance loans to be used as working capital to keep a minimum level of stock at their shops. They will also receive entrepreneurial training in areas of money management, sales techniques and record keeping.
Unilever CEO Mr. Eshan Malik reportedly remarked, “Through our partnership with NRSP, we plan to facilitate entrepreneurship in Pakistan. Making sustainable living commonplace is at the heart of our business model, and the use of microfinance makes this model scalable in the future as well.” NRSP CEO Dr. Rashid Bajwa noted that the organization would focus on skills development to promote rural entrepreneurship.
As of December 2011, Unilever Plc had a market capitalisation of GBP 27.3 billion (USD 31 billion).
By Chioma Okwudiafor, Research Associate
About National Rural Support Programme (NRSP)
Established in 1991, the National Rural Support Programme (NRSP) is a nonprofit organisation that provides microcredit to rural clients across Pakistan. NRSP is also active in microfinance, human recourse development, social services and physical infrastructure & technology. As of 2011, NRSP had approximately 333,511 active borrowers, gross loan portfolio size of USD 45.1 million. NRSP has a presence in 56 districts in Pakistan.
Sources and Additional Resources:
Express Tribune Story: “Underprivileged get access to microfinance” http://tribune.com.pk/story/445952/underprivileged-get-access-to-microfinance/
MicroCapital Universe Profile: National Rural Support Programme (NRSP)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=National+Rural+Support+Programme+%28NRSP%29
MicroCapital Story: March 25, 2011, MICROCAPITAL BRIEF: Pakistan’s National Rural Support Program (NRSP) Microfinance Bank Receives Permission to Operate as Regulated Entity https://www.microcapital.org/microcapital-brief-state-bank-of-pakistan-sbp-upgrades-license-of-national-rural-support-program-nrsp-microfinance-bank-from-district-to-nationwide-level-2/
MicroCapital Story: April 18, 2011, MICROCAPITAL BRIEF: Acumen Fund Makes Equity Investment of $1.9m in Pakistani National Rural Support Program (NRSP) Microfinance Bank
https://www.microcapital.org/microcapital-brief-acumen-fund-makes-equity-investment-of-1-9m-in-pakistani-national-rural-support-program-nrsp-microfinance-bank/
Microfinance Information Exchange: NRSP Report http://www.mixmarket.org/mfi/nrsp/report
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