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ISLAMABAD:
The government and the Asian Development Bank (ADB) on Tuesday signed a $350 million financing agreement aimed at advancing women’s financial inclusion and economic empowerment.
The agreement, under the Women Inclusive Finance Sector Development Programme (Subprogram-II), marks a major step toward making the national economy more inclusive and equitable.
The programme seeks to provide Pakistani women with improved access to financial services, expand entrepreneurship opportunities, and create sustainable employment avenues. These efforts are aimed at fostering inclusive and resilient economic growth.
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Subprogram-II builds on foundational reforms introduced under the first phase. It focuses on shaping a policy and regulatory environment that encourages women’s financial inclusion, improving the availability of finance for women, enhancing women’s entrepreneurship skills, and promoting inclusive and equitable workspaces in the financial sector.
The financing package consists of a $300 million policy-based loan and a $50 million Financial Intermediary Loan. This comprehensive support is expected to play a critical role in furthering Pakistan’s development goals by integrating women into the economic mainstream.
Officials said the agreement reflects the government’s strong commitment to ensuring that women become active participants in the country’s economic future.
They added that the programme would not only empower women financially but also help lay the foundation for a more inclusive, equitable, and prosperous Pakistan.
The agreement was signed by Sabina Qureshi, Additional Secretary at the Economic Affairs Division, and Dinesh Raj Shiwakoti, Head of the ADB’s Project Administration Unit.
The State Bank of Pakistan also signed a separate project agreement for the Financial Intermediary Loan component. The signing ceremony was attended by senior officials from both the government and the ADB.
