Islamabad: Pakistan has signed a USD 350 million loan agreement with the Asian Development Bank (ADB) to boost women’s financial inclusion and economic empowerment, according to Radio Pakistan.
The agreement, under the Women Inclusive Finance (WIF) Sector Development Programme, was inked Tuesday by Sabina Qureshi, Additional Secretary of the Economic Affairs Division, and Dinesh Raj Shiwakoti, Head Project Administration Unit, Radio Pakistan reported.
“This programme will provide ample opportunities to women for better access to financial services, expand business opportunities, and create new employment opportunities,” it added.
Sub-programme II of WIF focuses on four key reform areas. It includes creating an enabling policy and regulatory environment for women’s financial inclusion, increasing the finances for women, strengthening women’s entrepreneurship capabilities and promoting inclusive and equitable workplaces within the financial sector.
The agreement also reflects the government of Pakistan’s commitment to make women an active part of the national economy, Radio Pakistan said.
This initiative will not only strengthen women’s economic empowerment but also pave the way for a more inclusive, equitable and prosperous future, it added.
According to the Economic Survey 2024-25 released June 9, Pakistan’s debt has increased to PRs 76,000 billion in the first nine months of the current fiscal year, indicating that the cash-strapped country’s economy is likely to grow by 2.7 per cent this year.
Pakistan and the International Monetary Fund (IMF) signed a USD 7 billion External Fund Facility (EFF) loan last year and the country so far received two tranches, including the second one disbursed in May this year.
Pakistan is now aiming to secure USD 3.3 billion in the form of two foreign loans, one a syndicated loan and the other a refinancing of commercial loans, from Chinese banks within the next few days.
PTI
