The World Bank has approved USD 102 million for cash-strapped Pakistan for a project that aims to enhance access to microcredit and support the resilience of the microfinance sector and its borrowers, particularly in the face of climate-related shocks.
The financing under the ‘Resilient and Accessible Microfinance (RAM) project’ was approved by the World Bank board of directors on Tuesday, according to a statement issued by the World Bank.
Najy Benhassine, World Bank country director for Pakistan, said in the statement that microfinance is a critical tool for supporting the livelihoods of vulnerable populations in Pakistan.
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