Economics & Development

The Board of Directors approved an investment in Pakistan for the Pakistan Microfinance Investment Company Limited for the PMICL RPF Project, consisting of an unfunded Risk Participation Facility (RPF) to Pakistan Microfinance Investment Company Limited (PMICL) under which International Finance Corporation (IFC) will share credit risk on a portfolio of loans to be extended by PMICL to microfinance providers (MFPs), supported by a first loss guarantee under the Climate Adaptation and Innovation Investment Facility for Pakistan (CIFPAK) Program with IFC serving as the Implementing Entity, with the objective of strengthening access to finance for microfinance providers and supporting climate adaptation and innovation goals in Pakistan.