ADB approves $155.5M to support reforms in Pakistan

The Asian Development Bank (ADB) has approved $155.5 million in financing for supporting policy reforms to enhance women’s and women-led micro, small, and medium-sized enterprises’s access to finance.

Report informs via foreign media that the financing includes a $100 million policy-based loan to support legal and regulatory reforms, a $50 million financial intermediation loan and a $5.5 million grant for 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 in a statement on Monday.

"ADB’s new program will help transform Pakistan’s current financing ecosystem to help women to access much-needed finance and empower them to boost their livelihoods while contributing significantly to the economy," he said.