emirates7 - The Government of Pakistan and the Asian Development Bank (ADB) signed a US$350 million loan agreement on Tuesday for the “Women Inclusive Finance Sector Development Program (Subprogram-II),” which aims to enhance women's access to financial services and promote gender-inclusive economic growth.
According to the Associated Press of Pakistan (APP), citing a statement from the Economic Affairs Division, the agreement was signed by Sabina Qureshi, Additional Secretary of the Economic Affairs Division, and Dinesh Raj Shiwakoti, Head of ADB’s Project Administration Unit. The State Bank of Pakistan also signed the Project Agreement for the Financial Intermediary Loan.
This agreement underscores Pakistan’s ongoing commitment to empowering women economically by broadening their access to finance, supporting entrepreneurship, and creating job opportunities. The program is intended to help build a more inclusive and sustainable economy for women nationwide.
Subprogram II builds on policy reforms launched under Subprogram I and concentrates on four key areas: creating a supportive policy and regulatory environment for women’s financial inclusion; expanding access to finance specifically designed for women; improving women’s entrepreneurial skills and capabilities; and encouraging equitable and inclusive work environments within the financial sector.
The funding includes a US$300 million Policy-Based Loan and a US$50 million Financial Intermediary Loan, both of which are expected to significantly contribute to Pakistan’s drive toward inclusive, sustainable, and resilient economic development.
According to the Associated Press of Pakistan (APP), citing a statement from the Economic Affairs Division, the agreement was signed by Sabina Qureshi, Additional Secretary of the Economic Affairs Division, and Dinesh Raj Shiwakoti, Head of ADB’s Project Administration Unit. The State Bank of Pakistan also signed the Project Agreement for the Financial Intermediary Loan.
This agreement underscores Pakistan’s ongoing commitment to empowering women economically by broadening their access to finance, supporting entrepreneurship, and creating job opportunities. The program is intended to help build a more inclusive and sustainable economy for women nationwide.
Subprogram II builds on policy reforms launched under Subprogram I and concentrates on four key areas: creating a supportive policy and regulatory environment for women’s financial inclusion; expanding access to finance specifically designed for women; improving women’s entrepreneurial skills and capabilities; and encouraging equitable and inclusive work environments within the financial sector.
The funding includes a US$300 million Policy-Based Loan and a US$50 million Financial Intermediary Loan, both of which are expected to significantly contribute to Pakistan’s drive toward inclusive, sustainable, and resilient economic development.