Meta, formerly known as Facebook, is collaborating with the National Institute of Banking and Finance (NIBAF), a subsidiary of the State Bank of Pakistan (SBP) to train and up-skill Pakistani women entrepreneurs in order to foster sustainability and resilience of women-led businesses in the country.
The project is being executed under the ‘Business Resilience through Financial Education (BRFE)’ component of Meta’s flagship women empowerment program ‘SheMeansBusiness’. SheMeansBusiness was introduced in Pakistan in May 2020 in partnership with the SBP and USAID to bolster the financial inclusion and resiliency of women-led businesses, particularly during the Covid-19 induced economic slowdown.
Meta, in collaboration with the National Institute of Banking & Finance (NIBAF), will be hosting a series of online training sessions to up-skill 3,000 women entrepreneurs who are part of NIBAF’s National Financial Literacy Program for Youth (NFLP-Y). The primary aim of the program is to strengthen women’s business financial understanding and help them grow their businesses for enhancing their socioeconomic standing and role in society. NFLP-Y program focuses on managing personal finances and has a wide reach within Pakistan.
Speaking on the need for the program, Managing Director NIBAF Riaz Nazarali Chunara, said, “Financial empowerment is one of the key drivers of women empowerment. NIBAF is excited to collaborate with META to strengthen the financial literacy and digital skills of Pakistani women. We hope that this partnership will help our women craft their own entrepreneurship journeys.”
Commenting on the collaboration, Director APAC Policy Programs and Government Outreach – Meta Beth Ann Lim, said, “We are excited to collaborate with NIBAF to foster financial education and training for Pakistan women entrepreneurs. Financial education is crucial for the sustainability and resilience of small and medium enterprises, especially when combined with digital skills. Over the last 2 years, we’ve found that entrepreneurs that have adopted digital tools have been more resilient, financial education would further enable them to adapt and grow their businesses. I hope this arrangement goes on to make a significant difference for women-led businesses in the country.”
The Meta-NIBAF partnership aims to build on the two organizations’ shared experience in upskilling and enabling up and coming entrepreneurs for improved business prospects. While Meta has been leveraging its social media platforms and digital expertise for human development and economic recovery post-Covid-19, NIBAF also boasts extensive capabilities and expertise in designing and delivering a range of training programs, workshops, and seminars in subjects relevant to economics, banking, finance, and management for capacity building of commercial bankers, micro and rural finance providers, management professionals and entrepreneurs in the country. Its National Financial Literacy Program for Youth (NFLP-Y) educates the Pakistani youth and school-going children on money management skills.
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