Islamabad:
The government and the Asian Development Bank (ADB) signed a $ 350 million financing agreement on Tuesday aimed at promoting women’s financial inclusion and economic empowerment.
The agreement under the Women Inclusive Finance Sector Development Program (Sub-Program-II) marks a big step towards making the national economy more inclusive and fair.
The program seeks to give Pakistani women improved access to financial services, expanding entrepreneurial opportunities and creating sustainable employment opportunities. These efforts are aimed at promoting inclusive and resilient economic growth.
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Underprogram-II is based on basic reforms introduced during the first phase. It focuses on shaping a policy and regulatory environment that encourages women’s financial inclusion, improves the availability of financing for women, improves women’s entrepreneurial skills and promotes inclusive and fair areas of work in the financial sector.
The financing package consists of a $ 300 million policy -based loan and a $ 50 million financial loan. This comprehensive support is expected to play a critical role in promoting Pakistan’s development goals by integrating women into the economic mainstream.
Officials said the agreement reflects the government’s strong obligation to ensure that women become active participants in the country’s financial future.
They added that the program would not only strengthen women financially, but also help lay the basis for a more inclusive, fair and prosperous Pakistan.
The agreement was signed by Sabina Qureshi, additional secretary in the Economic Affairs division, and Dinesh Raj Shiwakoti, head of ADB’s Project Administration Unit.
State Bank of Pakistan also signed a separate project agreement for the financial intermediary loan component. The signing ceremony participated in senior officials from both the government and the ADB.
