Islamabad:
The Government and the Asian Development Bank (BAD) signed on Tuesday a financing agreement of $ 350 million aimed at advancing financial inclusion and economic empowerment of women.
The Agreement, under the Development Program of the Financial Sector of Women (Subprogram II), marks an important step to make the national economy more inclusive and equitable.
The program seeks to provide Pakistaní women an improved access to financial services, expand entrepreneurship opportunities and create sustainable jobs. These efforts aim to promote inclusive and resistant economic growth.
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The subprogram-II is based on fundamental reforms introduced under the first phase. It focuses on forming a policy and regulatory environment that encourages the financial inclusion of women, improving the availability of finance for women, improving women’s entrepreneurship skills and promoting inclusive and equitable work spaces in the financial sector.
The financing package consists of a loan based on $ 300 million policies and a financial intermediary loan of $ 50 million. This comprehensive support is expected to play a fundamental role in promoting the development objectives of Pakistan by integrating women into the economic current.
The authorities said the agreement reflects the strong government commitment to ensure that women become active participants in the country’s economic future.
They added that the program would not only financially empower women, but would also help to lay the foundations of a more inclusive, equitable and prosperous Pakistan.
The agreement was signed by Sabina Qureshi, additional secretary of the Division of Economic Affairs, and Dineh Raj Shiwakoti, director of the ADB project administration unit.
The State Bank of Pakistan also signed a separate project agreement for the financial intermediary loan component. The signature ceremony was attended by senior officials from both the government and the BAD.
