The government of Pakistan recently launched the Kamyab Pakistan Program, through which commercial banks and development finance institutions can bid to provide wholesale loans to retail providers of housing and microfinance loans. Successful bidders will be eligible to apply for government funds to: (1) increase the ability of retail lenders to borrow from the wholesale lenders; and (2) cover the first 10 percent of losses retail lenders may incur within the program plus half of the losses wholesale lenders may incur. Through Kamyab Pakistan, retail lenders can offer three products: housing loans, Kamyab Karobar business loans and Kamyab Kissan farming loans. The word “kamyab” means “success” in Urdu.
Pakistan’s central bank, the State Bank of Pakistan (SBP), is implementing Kamyab Pakistan. The mission of SBP is to promote growth “with a view to securing monetary stability and fuller utilization of the country’s productive resources.”
By Sheen Gupta, Research Associate
Sources and Additional Resources
Pro Pakistani article
https://propakistani.pk/2022/01/18/sbp-rolls-out-mechanism-of-kamyab-pakistan-program-for-banks/
SBP’s operational framework for the Kamyab Pakistan Program
https://www.finance.gov.pk/jobs/RFP_KPP_10102021.pdf
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