Engro Foundation and ASF ink agreement for agri and dairy sector development
Karachi, April 19, 2012: Engro Foundation, the CSR arm of Engro Corporation Limited, signed a Memorandum of Understanding (MoU) to strategically develop Pakistan’s agricultural sector with Agribusiness Support Fund (ASF).
ASF, has been awarded a mandate by the USAID to implement a 5-years project called the ‘USAID Agribusiness Project’ which is designed to address the problems and constraints impeding the development of agriculture sector of Pakistan and to stimulate private sector investment in the high value sectors.
Moreover, the project aims to foster economic growth, create job opportunities and alleviate poverty in the agribusiness sector by providing technical assistance and financial support to stakeholders in the rural as well as urban areas of Pakistan in order to improve agricultural practices, increase productivity, improve product quality and enhance value addition. The Engro Foundation and ASF will cooperate and collaborate on mutually agreed programs and activities to facilitate the achievement of project objectives.
About Engro Corporation Limited: Engro Corp is one of Pakistan’s largest conglomerates, in operation for over 45 years, and with businesses ranging from fertilizers to power generation. Currently Engro Corp’s portfolio consists of seven businesses which include chemical fertilizers, PVC resin, a bulk liquid chemical terminal, industrial automation, foods, power generation and commodity trade.