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.
Sectors Group
Request for information -
Country/Economy
Pakistan -
Sector
- Finance
| Project Name | Women Inclusive Finance Sector Development Program (Subprogram 1) | ||||||||||||
| Project Number | 54424-001 | ||||||||||||
| Country / Economy | Pakistan |
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| Project Status | Active | ||||||||||||
| Project Type / Modality of Assistance | Grant Loan |
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| Source of Funding / Amount |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability OP6: Strengthening governance and institutional capacity |
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| Sector / Subsector | Finance / Inclusive finance |
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| Gender | Gender equity theme | ||||||||||||
| 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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| Project Outcome | |
|---|---|
| Description of Outcome | Women's access to finance and representation in the financial sector increased. |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Women-centered legal and regulatory frameworks established Gender-responsive credit delivery enhanced Entrepreneurship capacity of women enhanced Strong institutional capacity developed Women-centered legal and regulatory frameworks established |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Safeguard Categories | |
|---|---|
| Environment | FI-C |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| Summary of Environmental and Social Aspects | |
|---|---|
| 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 | Sectors Group |
| Responsible ADB Division | Finance Sector Office (SG-FIN) |
| Executing Agencies |
Ministry of Finance |
| Timetable | |
|---|---|
| Concept Clearance | 15 Sep 2022 |
| Fact Finding | 26 Sep 2022 to 30 Sep 2022 |
| MRM | 24 Aug 2023 |
| Approval | 11 Dec 2023 |
| Last Review Mission | - |
| Last PDS Update | 11 Dec 2023 |
Grant 0933-PAK
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 11 Dec 2023 | 15 Dec 2023 | - | 30 Jun 2029 | - | - |
| Financing Plan | Grant Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 5.50 | Cumulative Contract Awards | |||
| ADB | 5.50 | 05 Feb 2024 | 0.00 | 0.00 | 0% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 05 Feb 2024 | 0.00 | 0.00 | 0% |
Loan 4427-PAK
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 11 Dec 2023 | 15 Dec 2023 | 21 Dec 2023 | 30 Jun 2024 | - | - |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 100.00 | Cumulative Contract Awards | |||
| ADB | 100.00 | 05 Feb 2024 | 0.00 | 0.00 | 0% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 05 Feb 2024 | 100.00 | 0.00 | 100% |
Loan 4428-PAK
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 11 Dec 2023 | 15 Dec 2023 | 21 Dec 2023 | 30 Jun 2029 | - | - |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 50.00 | Cumulative Contract Awards | |||
| ADB | 50.00 | 05 Feb 2024 | 0.00 | 0.00 | 0% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 05 Feb 2024 | 0.00 | 0.00 | 0% |
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ADB to Help Boost Pakistan Women’s Access to Finance
ADB has approved $155.5 million in financing for Pakistan that will support policy reforms enhancing women’s access to finance and provide credit to women-led micro, small, and medium-sized enterprises.
Tenders
Contracts Awarded
Procurement Plan
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