Karachi, 25 April 2020: Engro Foundation, the social investment arm of Engro Corporation, has signed a three-year Memorandum of Cooperation with the Bill & Melinda Gates Foundation to promote the well-being of vulnerable and marginalized segments of the society in Pakistan. Under the cooperation agreement, the organizations will also explore opportunities to support the Government of Pakistan’s poverty alleviation program for deserving families, whose incomes have been adversely affected by the coronavirus lockdowns”. Engro Foundation will be representing the philanthropic endeavors and mission of The Dawood Foundation and its affiliates as well. Both organizations will also evaluate other areas of mutual interest, such as nutrition, agriculture development, financial inclusion, women empowerment, and health of mothers and children. In addition to program specific cooperation, the organizations will benefit from shared experience and learnings related to grantmaking, including strategy development, grant implementation and operational support. The Memorandum of Cooperation was signed by Ghias Khan - President & CEO of Engro Corporation and Trustee of Engro Foundation, and Dr Chris Elias, President of Global Development at the Bill & Melinda Gates Foundation.” According to Hussain Dawood, Chairman of Engro Corporation, “It gives me great pleasure to announce the collaboration between Bill & Melinda Gates Foundation and Engro Foundation. Our partnership is based on shared values of human dignity, respect and integrity. I would like to express my profound appreciation to Bill & Melinda Gates for their generosity towards Pakistan." Ghias Khan, President & CEO of Engro Corporation and Trustee of Engro Foundation, added that, “To help Pakistan achieve the UN Sustainable Development Goals, there is a need to forge new partnerships and engage resources across all sectors. Together with the Bill & Melinda Gates Foundation, we are excited about investing in long-term solutions that address the country’s socio-economic challenges and create sustainable impact in our communities” This new collaboration continues the Bill & Melinda Gates Foundation’s more than decade-long work in Pakistan and builds on the support already committed to Ehsaas in 2019. Other foundation programs have covered a range of shared development priorities, including polio eradication, financial inclusion, routine immunization, typhoid control, and maternal, neonatal and child health. Polio eradication remains a top priority for the foundation and the Government of Pakistan. Pakistan is one of only two countries still affected by wild poliovirus. ------------------------------------------------ENDS--------------------------------------------------------- Aman Ul Haque | Head of Marketing & Corporate Communications | Engro Corporation Limited | 0302-8297059 | [email protected] About Dawood Hercules Dawood Hercules Corporation is a publicly listed investment company and the Group’s flagship investment holding company. Its sponsors are Hussain Dawood and Family. Dawood Hercules Corporation’s subsidiary is Engro Corporation. Dawood Hercules Corporation is in the business of managing its investments in its subsidiaries and associated companies