CSF introduces matching grants facility

ISLAMABAD - The Competitiveness Support Fund (CSF) has launched a brochure on its Business Incubator-Matching Grants facility to promote its co-financing initiatives for micro enterprises in Pakistan. CSF is a joint initiative of USAID and Ministry of Finance, Pakistan. CSF has estimated more than  $ 10.5m  and more than 90 new business and enterprises are expected to emerge from this initiative, creating more than 11,500 jobs in Pakistan.  Support for CSF is part of the $1.5 billion in aid that the US government is providing through USAID to Pakistan over five years to improve economic growth, education, health and governance. CEO CSF Arthur Bayhan stated that the CSF Board has already approved 10 innovative projects for implementation under its Matching Grants Window. "These projects are focused on providing the necessary finance for innovation, technology transfer, skill development, vocational training and women's development". CSF and the HEC will jointly invest time and money in developing a framework for setting up the business incubators at leading academic institutes. These business incubators, by providing timely help and support to new ventures, will hold the potential to create and develop entrepreneurial talent at the micro-level. The matching grant projects are mainly focused on agricultural and industrial clusters, associations from Mohmand Agency in FATA, Quetta, Karachi and Lahore.  The facility carries the objectives of supporting projects from across the country to showcase innovation and enhance the competitiveness of the economic sectors through pilot initiatives and to support linkages between academia/R&D institutions and the private sector aimed at creating a knowledge-based economy, thus upgrading Pakistan's economic competitiveness.

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