Proparco granted a US$5 million loan to the Kashf Foundation microfinance institution in Pakistan. This operation illustrates Proparco’s commitment to financial inclusion and women empowerment in developing and emerging countries.
An iconic institution in Pakistan, recipient of the European « Microfinance and Access to Education» prize in 2016, Kashf Foundation is known for its microcredit and micro insurance activities as well as for its financial inclusion programs, the support it provides to female entrepreneurs and its gender awareness programs granted to the spouses and children of its clients. 99% of Kashf Foundation’s clients are women.
Along this loan, Proparco will also cofinance a technical assistance program intended to support Kashf’s activities.
Proparco has been supporting microfinance institution for many years in order to develop financial inclusion in developing and emerging countries. In 2016, Proparco’s financing were estimated to allow 2 million people be microcredit beneficiaries.