ADB to help better access of women to micro credit

The Asian Development Bank (ADB) on Monday announced that it has approved $155.5 million in financing for Pakistan that will support policy reforms enhancing women’s access to finance and providing credit to women-led micro, small, and medium-sized enterprises. In a statement, the Manila-based lending agency said the financing comprised a $100 million policy-based loan that supports legal and regulatory reforms to improve women better access to finance. Another $50m financial intermediation loan is planned to enable participating financial institutions to lend to women entrepreneurs. Another $5.5m grant will finance related activities. “Inclusive, resilient and sustainable development cannot be achieved if women do not have equal economic opportunities and benefits,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “ADB’s new programme will help transform Pakistan’s current financing ecosystem to improve women’s access to much-needed finance and empower them to boost their livelihoods while contributing significantly to the economy.”