Pakistan: Women Inclusive Finance Sector Development Program (Subprogram 1)
The proposed Women Inclusive Finance Sector Development Program entails a policy-based loan component to be delivered in 2 subprograms to the Government of Pakistan (GOP) a financial intermediation loan (FIL) and a credit guarantee facility backed by a FIL to enhance women entrepreneurs access to finance and representation and voice in the economy. A central objective of the Government' of Pakistan's economic development strategy is the generation of job opportunities and enhancement of income levels as top priorities. Achieving these objectives will require substantial investments of private and public capital to accelerate economic growth, but also to ensure that future growth is inclusive of women.
Project Details
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Project Officer
McCartney, Andrew C.
Central and West Asia Department
Request for information -
Country/Economy
Pakistan -
Sector
- Finance
Related Projects
Project Name | Women Inclusive Finance Sector Development Program (Subprogram 1) | ||||||||||||
Project Number | 54424-001 | ||||||||||||
Country / Economy | Pakistan |
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Project Status | Proposed | ||||||||||||
Project Type / Modality of Assistance | Grant Loan |
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Source of Funding / Amount |
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Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships Private sector development |
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Sector / Subsector | Finance / Inclusive finance |
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Gender Equity and Mainstreaming | Gender equity | ||||||||||||
Description | The proposed Women Inclusive Finance Sector Development Program entails a policy-based loan component to be delivered in 2 subprograms to the Government of Pakistan (GOP) a financial intermediation loan (FIL) and a credit guarantee facility backed by a FIL to enhance women entrepreneurs access to finance and representation and voice in the economy. A central objective of the Government' of Pakistan's economic development strategy is the generation of job opportunities and enhancement of income levels as top priorities. Achieving these objectives will require substantial investments of private and public capital to accelerate economic growth, but also to ensure that future growth is inclusive of women. The program is well anchored in the operational priorities of ADB's Strategy 2030, specifically, gender equality (pillar 2) and the Pakistan Country Partnership strategy (2021-2025) for supporting women participation in the growth of private sector and development of the financial sector to support private sector. The preparation of the proposed SDP benefits from existing TRTA approved in June 2021. |
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Project Rationale and Linkage to Country/Regional Strategy | The program adopts a holistic approach by combining both ADBs timely funding via the FILs, supported and reinforced by appropriate policy reforms designed to address underlying barriers for women inclusive finance. The SDP modality is chosen to maximize ADBs value addition by combining (i) critical regulatory and policy reforms to improve the supply and demand of finance for women, through two policy-based loans (PBLs) in a programmatic approach in 2022-2023, with (ii) two financial intermediary loans (FILs) to fill the funding gap in the identified market segments. Both PBL and FIL components are mutually reinforcing: the FIL helps operationalize the reforms and move the industry onto a more sustainable, inclusive, and scalable footing, whilst the PBL stimulates both the supply and the demand factor to ensure the FIL is effectively utilized for maximum impact. | ||||||||||||
Impact | Women act as major contributors in transforming the economy into a more inclusive, efficient, innovative, and competitive marketplace. |
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Outcome | Women's access to finance and representation in the financial sector increased. |
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Outputs | Women-centered legal and regulatory frameworks established Gender-responsive credit delivery enhanced Entrepreneurship capacity of women enhanced Strong institutional capacity developed |
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Geographical Location | Nation-wide |
Safeguard Categories | |
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Environment | FI-C |
Involuntary Resettlement | FI-C |
Indigenous Peoples | FI-C |
Summary of Environmental and Social Aspects | |
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Environmental Aspects | |
Involuntary Resettlement | |
Indigenous Peoples | |
Stakeholder Communication, Participation, and Consultation | |
During Project Design | |
During Project Implementation |
Responsible ADB Officer | McCartney, Andrew C. |
Responsible ADB Department | Central and West Asia Department |
Responsible ADB Division | Public Management, Financial Sector and Trade Division, CWRD |
Executing Agencies |
Ministry of Economic Affairs, Economic Affairs Division Ministry of Finance |
Timetable | |
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Concept Clearance | 15 Sep 2022 |
Fact Finding | 26 Sep 2022 to 30 Sep 2022 |
MRM | 22 Feb 2023 |
Approval | - |
Last Review Mission | - |
Last PDS Update | 21 Sep 2022 |
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Title | Document Type | Document Date |
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Women Inclusive Finance Sector Development Program (Sub-Program 1): Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Aug 2021 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
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