MD NIT apprises Finance Minister on the ongoing efforts of NITL in developing Pakistan’s ‘First Social Impact Fund’

Islamabad, September 14, 2021 (PPI-OT): Mr. Adnan Afridi, Managing Director, National Investment Trust Limited, called on the Finance Minister Mr. Shaukat Tarin. Mr. Afridi commended the ongoing developments in the macro policy framework as it helped stimulate significant growth in the asset management Industry whereby the total AUMs crossed Rs. 1 trillion mark in the outgoing fiscal year, posting a growth of nearly 65% YoY.

 

Mr. Afridi also apprised the Finance Minister on the ongoing efforts of NITL in developing Pakistan’s ‘First Social Impact Fund (SIF)’ that is primarily dedicated to finance strategic and financially sustainable social initiatives such as women empowerment, agriculture value chains, MSME development, low cost renewable energy and low cost housing schemes through microfinance banks/institutions. Mr. Afridi also highlighted the synergies that could be created between ‘NIT – Social Impact Fund’ and ‘Kamyab Pakistan Program.’ NIT – SIF and KPP will go hand-in-hand by introducing mission oriented low cost capital for the lower income strata of the society through requisite assets supply and lending structures.

 

The Finance Minister praised NIT’s efforts in addressing financial inclusion gap with such innovative and pioneering platforms and expressed confidence that investors will be attracted to the ‘double bottom line’ offering of SIF.

 

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