Islamabad:
The Government and the Asian Development Bank (AfDB) signed a 350 million dollar financing agreement on Tuesday aimed at advancing the financial inclusion of women and economic empowerment.
The agreement, within the framework of the development program of the finance sector on women (subprogram-II), marks a major step towards the more inclusive and equitable meeting of the national economy.
The program seeks to provide Pakistani women with improved access to financial services, extend entrepreneurship opportunities and create sustainable employment avenues. These efforts aim to promote inclusive and resilient economic growth.
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Sub-programs-II are based on fundamental reforms introduced in the first phase. It focuses on the development of a political and regulatory environment that encourages the financial inclusion of women, improving the availability of finance for women, improving skills between women and promoting inclusive and fair work spaces in the financial sector.
The financing package consists of a loan based on policies of $ 300 million and an intermediate financial loan of $ 50 million. This full support should play an essential role in promoting Pakistan development objectives by integrating women into economic current.
The officials said that the agreement reflects the government’s strong commitment to guarantee that women become active participants in the country’s economic future.
They added that the program would empower not only women financially, but would also help to lay the foundations for a more inclusive, fair and prosperous Pakistan.
The agreement was signed by Sabina Qureshi, additional secretary to the Division of Economic Affairs, and Dinesh Raj Shiwakoti, Head of the BAD Project Administration Unit.
The State Bank of Pakistan also signed a separate project agreement for the intermediate financial loan component. The signature ceremony was followed by senior government and BAD officials.
