Islamabad: The Government of Pakistan and the Asian Development Bank (ADB) have signed a USD 350 million loan agreement for the 'Women Inclusive Finance Sector Development Program (Subprogram-II)'. The agreement was formalized by Ms. Sabina Qureshi, Additional Secretary of the Economic Affairs Division, and Mr. Dinesh Raj Shiwakoti, Head of the Project Administration Unit. The State Bank of Pakistan also signed the Project Agreement for the Financial Intermediary Loan (FIL).

According to Press Information Department, senior officials from both the Government of Pakistan and ADB attended the signing ceremony. This agreement underlines Pakistan's commitment to advancing women's economic empowerment. The program aims to enhance access to finance, expand entrepreneurship opportunities, and increase job creation, facilitating a more inclusive and prosperous future for women.

Subprogram II of the Women Inclusive Finance initiative builds on policy reforms from Subprogram I. It targets four main areas: creating a supportive policy and regulatory environment for women's financial inclusion, increasing financial supply for women, strengthening women's entrepreneurship skills, and promoting inclusive workplaces within the financial sector.

The financing package, totaling USD 350 million, includes a 300 million Policy Based Loan and a 50 million FIL. This funding will play a crucial role in Pakistan's ongoing efforts towards inclusive, resilient, and sustainable development.