Latest news with #WomenInclusiveFinance
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First Post
25-06-2025
- Business
- First Post
Pakistan signs $350 million ADB loan to boost women's financial inclusion
Pakistan has signed a USD 350 million loan agreement with the Asian Development Bank to boost women's financial inclusion and economic empowerment, according to Radio Pakistan. read more Pakistan has secured a $350 million loan from the Asian Development Bank (ADB) aimed at advancing financial inclusion and economic empowerment for women, state broadcaster Radio Pakistan reported on Tuesday. The loan agreement was signed in Islamabad by Sabina Qureshi, Additional Secretary of the Economic Affairs Division, and Dinesh Raj Shiwakoti, Head of ADB's Project Administration Unit, under the Women Inclusive Finance (WIF) Sector Development Programme. The funding under WIF's second sub-programme targets four critical areas: fostering a supportive regulatory and policy framework for women's financial access, expanding financing options for women, enhancing female entrepreneurial capabilities, and building inclusive work environments within the financial sector. STORY CONTINUES BELOW THIS AD The programme is designed to offer women improved access to credit and other financial services, expand their business opportunities, and generate new jobs, Radio Pakistan said. It added that the initiative aligns with Pakistan's broader national goal of integrating women more fully into economic activity. By strengthening women's role in the financial and business landscape, the programme aims to drive equitable growth and sustainable development across the country. The loan comes amid challenging economic circumstances for Pakistan. According to the Economic Survey 2024-25 released on June 9, the country's debt rose to PKR 76 trillion during the first nine months of the fiscal year. Despite the debt burden, Pakistan's economy is projected to grow by 2.7% this year. Islamabad is also pursuing additional external financing. It is currently working to secure $3.3 billion through a syndicated loan and commercial refinancing from Chinese banks, even as it continues under a $7 billion loan programme agreed with the International Monetary Fund (IMF) last year. Pakistan has already received two tranches under the IMF programme, the latest of which was disbursed in May.
Business Recorder
03-06-2025
- Business
- Business Recorder
Ministries & Divs: ECC clears TSG summaries
ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) of the Cabinet was held on Monday under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. The ECC took up a number of summaries from various ministries and divisions seeking Technical Supplementary Grants (TSGs) besides some other crucial matters brought to the Cabinet body. For the summaries submitted for grant of TSGs, the ECC considered and decided the following: Rs. 1.259 billion TSG for Ministry of Finance to return the amount to the Government of Sindh as un-utilized funds from wheat seed cash reimbursement programme. Rs. 5.6 billion TSG for the Ministry of Finance as rupee cover for ADB funded Women Inclusive Finance (WIF) project Rs. 231.893 million TSG for Ministry of Interior and Narcotics Control to meet the additional funds requirement of civil armed forces Rs. 64 million TSG for Ministry of Interior and Narcotics Control on account of staff transferred to CDA from the Pak. PWD Rs. 50 million TSG for the Ministry of Parliamentary Affairs to support PILDAT for promotion of democracy by focusing on governance and public policy. Rs. 90 million TSG for Petroleum Division for execution of gas schemes in the province of Punjab. Rs. 100 million TSG for Ministry of Poverty Alleviation and Social Safety as grant-in-aid to release the funds to SOS Children's Villages Pakistan. Rs. 1.889 billion TSG for Ministry of Information and Broadcasting for clearing advertising liabilities and other expenditures Rs. 2.150 billion TSG for Ministry of Housing and Works for onward transfer to Pakistan Infrastructure Development Company Limited for execution of development schemes of District Swabi. Rs. 1.70 billion TSG for Ministry of Defence for technological upgradation of ISPR. Rs. 400 million TSG for Ministry of Interior and Narcotics Control for development expenditure under the Sustainable Development Goals Achievement Programme (SAP). Rs. 40.34 billion TSG for Economic Affairs Division on account of revised budget estimates for FY2024-25 for repayment of short-term foreign loan credits. Rs. 2.232 million TSG for Ministry of Law and Justice for reimbursement of funds to CDA in respect of project covering establishment of district courts in Islamabad. Rs. 2.750 million for Ministry of Federal Education and Professional Training for the Prime Minister's Youth Skill Development Programme. Rs. 750 million TSG for Power Division for development expenditure. Rs. 1.2 billion TSG for Ministry of Interior for arrangement of 23rd meeting of the Council of the Heads of State of the Shanghai Corporation Organisation (SCO) in Islamabad. Rs. 14 million TSG for Ministry of Kashmir Affairs &Gilgit Baltistan for employees related expenditure. Rs. 294 million TSG for Ministry of Finance for merged Ministry of KAGB and SAFRON. The ECC also took up and approved a summary by Power Division for approval of a tripartite power purchase agreement of 1145 MG Karachi Nuclear Plant Unit-2 (K-2) and Unit-3 (K-3) at Karachi. On a summary of the Petroleum Division regarding the Machike-Thallian - Tarrujabba White Oil Pipeline, the ECC accorded full backing to the project but deferred the matter until the next ECC meeting for detailed working by the Finance, Planning and Petroleum Divisions on the financial and operational modalities of the proposal. The ECC also considered a summary by the Ministry of Commerce and approved amendment in import policy order (IPO) for state-owned defence production entities and their wholly owned commercial subsidiaries. The ECC discussed and approved a proposal by the Finance Division for establishment of 'Women Inclusive Finance Support Fund' Trust under the Asian Development Bank funded women inclusive finance project. The ECC also considered a summary by the Ministry of National Food Security & Research seeking notification of minimum indicative prices of tobacco crop (2025) and revision of cess rates on tobacco for the year 2025-26. The cabinet body discussed the matter and approved the proposal with the instruction to the Ministry to come up with a plan to do away with the existing regime in future in line with the government policy of promoting deregulation in the crop sector. The ECC also considered and approved a summary by the Ministry of Housing and Works for withdrawal of directives transfer Hyderabad Package (PSDP#223) and Karachi (PSDEP#222) from the Government of Sindh to PIDCL. The Cabinet body also considered and approved a summary by the Finance Division, outlining the policy for the grant of honourarium to the government employees. The meeting was attended by Minister for Power SardarAwais Ahmed Khan Leghari, Minister for Investment Mr. Qaiser Ahmed Sheikh, Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan, Chairman SECP along with federal secretaries and senior officials from relevant ministries and divisions. Copyright Business Recorder, 2025
