Khushhali Bank and USAID extend scholarship programme’s outreach

PESHAWAR (March 26 2008): Khushhali Bank (KB) in collaboration with the United States Agency for International Development (USAID) has expanded the outreach of the KB-USAID scholarship programme in Pakistan, as a result of which 34 additional scholarships worth Rs 6.4 million are being offered to students pursuing professional degrees at the Institute of Management Sciences, University of Peshawar.

The USAID’s support to Khushhali Bank for the scholarship programme is a part of the $1.5 billion in aid that US Government is providing to Pakistan over five years to improve economic growth, education, health, governance and reconstruction of earthquake affected areas.

To commemorate the occasion an awards distribution ceremony was held in Peshawar on Tuesday that was widely attended by the university faculty, media and other dignitaries. Speaking on the occasion, Ghalib Nishtar, President, Khushhali Bank, appreciated the support extended by USAID in facilitating such an initiative. “Our aim is to not only improve the quality of education offered in the remotest areas of the country but also to expand the outreach of our scholarship programme to benefit the under-served communities.”

Nishtar further said that as a developing nation, the major problem obstructing our growth is lack of access to quality education, thereby affecting the development of the country’s vast pool of human capital. “By expanding the outreach of our scholarship programme, we hope to give deserving students better opportunities for specialised education so that they have a chance to excel in life,” he added.

The scholarships are being awarded on merit specifically to students from Fata who are currently enrolled at the University of Peshawar. The scholarship includes tuition and examination fees, along with course related material/books, boarding and lodging expenses and associated incidental charges. In addition, students receiving scholarships may also be offered special internship opportunities during their term at the University of Peshawar.

Appreciating the initiative, Dr Muhammad Javed Khan, Vice Chancellor, University of Peshawar thanked USAID and Khushhali Bank. “Scholarships to deserving students provide them with an opportunity to fulfil their ambition to pursue higher education. This scholarship programme has not only given an impetus to many deserving students but has provided immense encouragement to our university,” he added.

With the addition of 34 scholarships under Khushhali Bank-USAID Scholarship Programme, the total number of scholarships to the University of Peshawar goes up to 47; whereas the total number of scholarships under this programme to all major universities in Pakistan has gone up to 128.

Khushhali Bank (KB) is rated as Pakistan’s largest and fastest growing retail microfinance bank operating under the Central Bank regulations. Established in 2000, the Bank is funded by leading international financial institutions as a partnership between public, multinational and private sector commercial financial institutions. KB’s mission is to market financial services tailored for the low income segment in line with international micro-finance practices through an extended network operating across the country’s rural and urban divides.
Source: Business Recorder