Government of Pakistan and Asian Development Bank (ADB) Sign Grant to Expand Outreach of Microfinance; First MicrofinanceBank and Kashf Foundation Help

The government of Pakistan and the ADB, a multilateral financial development foundation founded in 1966, have signed a USD 2mm grant agreement which plans to expand the outreach and services of microfinance in Pakistan. The grant comes from the ADB’s Japan Fund for Poverty Reduction (JFPR), a grant facility established in 2000 by the government of Japan and the ADB. The agreement was signed by Peter Fedon, the ADB Pakistan country director, and Muhammad Saleem Sethi, joint secretary for the Ministry of Economic Affairs and Statistics.

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