The World Bank has reported satisfactory progress on the Pakistan Housing Finance Project, which aims to enhance access to housing finance for households and support capital market development.
According to the bank’s “Implementation Status & Results Report,” the project is on track to meet its development objectives.
The report highlighted that $60 million had been disbursed to strengthen the capital base of the Pakistan Mortgage Refinance Company (PMRC) and support its operationalisation under component 1 of the project. Additionally, the project provided a $70 million line of credit for concessional and longer-term loans for low- and middle-income households, along with $10 million for a pilot Risk Sharing Facility (RSF) and $25 million for a scaled-up RSF under component 2.
These efforts have helped PMRC become a central player in Pakistan’s housing finance sector, accounting for 15% of the country’s housing finance and improving access to housing finance for low-income households. The World Bank’s support continues to play a crucial role in driving the success of the project and expanding access to affordable housing in Pakistan.
