Karachi, 19th September 2011: The Coca-Cola Export Corporation, Pakistan
today announced its partnership with KASHF Foundation, one of Pakistan’s
largest microfinance institutions, to provide financial access to 350 female
entrepreneurs. Under the partnership, Coca-Cola has provided Rs. 8.6 million to
be sued for providing loans to 350 economically disadvantaged women-led
households. The loans will enable the women build up businesses such as small
grocery stores, garment and handicrafts production, thus increasing their
income by 20 per cent.
The scheme will not only financially assist some of
the country’s lowest-income households, but will enhance women’s economic role
and decision making capacity. Financial
literacy trainings will be given before each disbursement to ensure that loans
have a positive impact on the economic capability of the women.
Rizwan U. Khan, General Manager, Pakistan &
Afghanistan, The Coca-Cola Export Corporation said, “We realise the potential
of women in growth and progress of Pakistan.
The project aims to provide women with the opportunity to bring about
lasting change for their families. We look forward to forming a long-term
partnership with Kashf to further the cause of poverty alleviation and women
empowerment in Pakistan.”
The Kashf Foundation was the first institution in
Pakistan to demonstrate a sustainable microfinance model in the country, and
currently has a total disbursement of Rs. 17.3 billion to over 1 million female
clients.
Based on KASHF’s experience, the project should bring
the beneficiaries’ households above the poverty line in three year time, and by
2016 allow their businesses to grow to the extent that they’ll be able to employ
others in their communities.
Ms. Roshaneh Zafar, Founder and Managing Director of Kashf
Foundation, said "This project represents a significant contribution
towards our key mission: restoring the dignity and unleashing the potential of
our people, especially our women. We are
very grateful to Coca-Cola for donating funds to enable these households to
escape the frustrations and deprivations of poverty.”
About
The Coca-Cola Company: The Coca-Cola
Company is the world's largest beverage company, refreshing consumers with
nearly 500 sparkling and still brands. Along with Coca-Cola, recognized as the
world's most valuable brand, the Company's portfolio includes 12 other
billion-dollar brands, including Diet Coke, Fanta, Sprite, Coca-Cola Zero,
vitaminwater, PowerAde, Minute Maid and Georgia Coffee. Globally, we are the
No. 1 provider of sparkling beverages, juices and juice drinks and
ready-to-drink teas and coffees. Through the world's largest beverage
distribution system, consumers in more than 200 countries enjoy the Company's
beverages at a rate of nearly 1.6 billion servings a day. With an enduring
commitment to building sustainable communities, our Company is focused on
initiatives that protect the environment, conserve resources and enhance the economic
development of the communities where we operate. For more information about our
Company, please visit our website at www.thecoca-colacompany.com.
For more information, please contact:
Khurram Zia Khan or Afsar Khan - Ph: 35867576 -
35837674
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