Lahore: The United States Agency for International Development (USAID)’s Mission Director for Pakistan Julie A. Koenen announced on Monday that the agency is offering USD 200,000 under the ‘Challenge Fund Grant’ to businessmen and innovators contributing to the development of future of the national trade sector, according to news sources.
The director stressed that new and innovative business approach in the industrial sector will help increase the industrial production capacity, create employment opportunities, and boost the economy. She – along with the United States Counsel General Catherine Rodriguez- was meeting with the Governor Punjab Chaudhry Mohammad Sarwar here on Monday.
The governor lauded USAID for its various initiatives launched in the information technology, hospitality, engineering, textiles, and agriculture sectors.
In a related recent development, American and Pakistani officials also gathered at an Islamabad event to celebrate 20 successful Challenge Fund Grant recipients from Pakistan and talk about the USAID’s future development plans for Pakistan. This ‘Challenge Fund Grant’ campaign seeks to support small and medium-sized enterprises (SMEs) in Pakistan.