The World Bank has approved $102 million for the Resilient and Accessible Microfinance (RAM) Project in Pakistan. This initiative aims to provide microcredit access and fortify the country’s microfinance sector against climate-induced disruptions. It is expected to benefit nearly 1.89 million people, including over 1 million women and 350,000 youth, particularly in rural and low-income communities.
By funding microfinance institutions, the project ensures financial support during economic and climate crises, with a focus on offering recovery loans for small businesses and individuals affected by disasters. World Bank officials highlighted the tool’s importance in safeguarding vulnerable populations and enhancing financial inclusion in Pakistan amidst rising climate risks.
Additionally, the RAM Project will establish a Climate Risk Fund and adopt innovative agrotechnology solutions to enhance economic resilience. The project, led by Pakistan’s Ministry of Finance through the State Bank of Pakistan, is part of the World Bank’s broader commitment to tackling financial and climate challenges under its 10-year Country Partnership Framework.
