The Asian Development Bank (ADB) has launched a $500 million financing programme with Pakistan to boost women’s financial inclusion. This move is part of the global Women Entrepreneurs Finance Code (WE Finance Code), led by the World Bank. The State Bank of Pakistan (SBP) officially joined the initiative on Monday, aiming to bridge the gender finance gap.
So far, 20 banks and financial institutions have joined the SBP-led programme. They will help women access bank loans, ATMs, and other financial services. ADB’s Christine Engstrom highlighted that this initiative is not just personal—it’s a core strategy for economic growth. She said the programme targets over 2 million women in Pakistan.
Studies show that reducing the gender gap can raise Pakistan’s GDP by up to 30%. Globally, the impact of women’s economic participation could add $28 trillion to the economy. SBP’s Abid Qamar said that bringing more women into the financial system can also boost banking revenue by around $650 million.
Meanwhile, the WE Finance Secretariat noted that over 30 countries and 250 institutions have signed the code. Their focus is to support women-run SMEs, encourage policy reforms, and increase job opportunities. They also aim to include fintech, digital finance, and equity funds in the Pakistani market.
SBP Governor Jameel Ahmad stressed that gender equality is a national economic need. Currently, women make up only 22% of the labour force in Pakistan. He said SBP will continue working with key sectors to create a more inclusive financial ecosystem that supports women entrepreneurs and reduces financial inequality.