World Bank explores tie-up with SMEDA in building skills

Discusses possibility of signing MoU to support SME development World Bank explores tie-up with SMEDA in building skills The World Bank has expressed interest in exploring potential collaboration with the Small and Medium Enterprises Development Authority (Smeda) in areas including access to finance, technology adoption and skills development to enhance the competitiveness and growth potential of SMEs. A World Bank mission visited Smeda to discuss ongoing SME development initiatives and seek opportunities for collaboration aimed at strengthening Pakistan's small and medium enterprises (SMEs). The delegation comprised Kiran Afzal, Senior Private Sector Specialist; Javier Sanchez-Reeza, Senior Economist; and Koan Martin Geven, Senior Economist. Smeda's senior management team including Sheharyar Tahir, Raja Hassanein Javed and Javed Afzal attended the meeting. Both sides discussed possible mechanisms for formalising their cooperation, including a Memorandum of Understanding (MoU) or other appropriate collaborative arrangements, to support SME development in Pakistan. Sheharyar Tahir briefed the visiting delegation on the key pillars of the SME Policy 2021 and its action plan, highlighting Smeda's ongoing initiatives under its three-year business plan. He explained that the plan placed particular emphasis on underserved areas and aimed to address the key challenges faced by SMEs through targeted development interventions. The briefing covered priority areas such as access to finance, export readiness, women entrepreneurship and microenterprise development, digitalisation and e-commerce, the National Subcontracting Development Programme, and grant-based support for SME certifications. Initiatives related to climate resilience and green finance were also highlighted as emerging areas of focus. The meeting provided an opportunity to exchange views on strengthening institutional cooperation and identifying practical avenues for expanding support to SMEs, particularly underserved enterprises, women-led businesses and microenterprises.