The Asian Development Bank (ADB) has pledged US$150 million in assistance to Pakistan to restructure and develop its small- and medium-size enterprises (SMEs) sector. The funds will be used to restructure and improve the technology and technical expertise of SMEs to upgrade their products.
ADB country directors Marshuk Ali and Rainer Hartel among others, shared preliminary impressions with the finance minister about their talks with the Small and Medium Enterprises Development Authority (Smeda), the SME Bank and various other banking and non-banking institutions.
The minister told the mission there was significant potential to develop the SME sector in Pakistan. However, it needed assistance to bring technology into line with the global market, and with establishment of a regulatory framework, access to finances and proper marketing and management.
