Islamabad: The Government of Pakistan and the Asian Development Bank (ADB) formalized a significant agreement on a USD 350 million loan aimed at advancing the “Women Inclusive Finance Sector Development Program (Subprogram-II)”. This initiative aims to enhance women’s access to financial services and foster entrepreneurship opportunities, thereby supporting economic empowerment and job creation.

The loan agreement was signed by Ms. Sabina Qureshi, Additional Secretary of the Economic Affairs Division, and Mr. Dinesh Raj Shiwakoti, Head of the Project Administration Unit at ADB, with the State Bank of Pakistan signing the Project Agreement for the Financial Intermediary Loan. The ceremony witnessed the presence of senior officials from both the Government of Pakistan and ADB.

This program seeks to build on the policy reforms initiated under Subprogram I, focusing on four major reform areas. These include creating an enabling environment for women’s financial inclusion, increasing financial supply for women, enhancing women’s entrepreneurship capabilities, and promoting equitable workplaces within the financial sector.

The financing package, comprising a USD 300 million Policy Based Loan and a USD 50 million Financial Intermediary Loan, is expected to significantly contribute to Pakistan’s goals for inclusive, resilient, and sustainable development.