Islamabad: The Asian Development Bank (ADB) has approved a loan worth USD 25 million to assist the lending operations that financially support women-led small & medium-sized enterprises (SMEs), a news source reported.
ADB has provided the loan to the Kashf Foundation that offers loans to low-income households, along with women-led SMEs. The move would help women in Pakistan access financial support and economically empower them.
ADB Investment Specialist Tina Rohner stated that an inclusive financial sector was essential for the country’s sustainable development. She added that their support extended to the Kashf Foundation would ensure the availability of much-needed financial products for women-led micro, small, and medium-sized enterprises (MSMEs). She said that these enterprises had high potential for contributing to growth and development in Pakistan.
The approved financial facility includes A and B category loans. The A loan worth USD 15 million would be funded by the ADB itself, while commercial co-financers – including international impact investors – would fund the B loan worth USD 10 million.
ADB’s loan is expected to broaden Kashf Foundation’s lending operations and market base, which would help MSMEs access long-term financing.