Pakistan and the Asian Development Bank (ADB) signed a $350 million loan agreement on Tuesday for the “Women Inclusive Finance Sector Development Program (Subprogram-II).”
The loan agreement was signed by Sabina Qureshi, additional secretary of the Economic Affairs Division, and Dinesh Raj Shiwakoti, Head of the Project Administration Unit. The State Bank of Pakistan signed the Project Agreement for the Financial Intermediary Loan (FIL).
The ceremony was attended by senior officials from both the government and the ADB. This agreement underscores Pakistan’s commitment to advancing women’s economic empowerment, aiming to enhance access to finance, entrepreneurship opportunities, and job creation, thereby fostering a more inclusive future for women.
Subprogram II builds on the policy reforms introduced under Subprogram I and focuses on four key areas: creating a supportive policy environment for women’s financial inclusion, expanding financial services for women, strengthening their entrepreneurial skills, and promoting inclusive workplaces within the financial sector.
The $350 million financing package, which includes a $300 million policy-based loan and a $50 million FIL, will support Pakistan’s efforts toward inclusive, resilient, and sustainable development.
