The State Bank of Pakistan (SBP), in partnership with the Asian Development Bank (ADB), has officially launched the Women Entrepreneur Finance Code (We Finance Code), a $500 million loan program aimed at addressing the financing gap for women-led businesses across the country. The launch event was attended by SBP Governor Jameel Ahmad, Deputy Governor Saleemullah, representatives from ADB, and the presidents of leading commercial banks operating in Pakistan.
Governor Jameel Ahmad emphasized the urgency of improving female labor force participation, which currently stands at only 22 percent. He cited key barriers such as limited access to transportation, credit, and digital financial services as ongoing challenges that women face in entering and thriving in the economic landscape. Under the new initiative, SBP has been designated the National Code Champion for the We Finance Code and has secured the participation of 20 banks that have committed to promoting the agenda of financial inclusion for women.
This effort is part of a broader plan to integrate financial institutions, academia, and the private sector to improve outreach, build awareness, and support capacity development for women entrepreneurs across the country. According to SBP’s Deputy Governor Saleemullah, the central bank’s consistent efforts over the past two decades have raised Pakistan’s overall financial inclusion rate from 16 percent to 67 percent. However, he acknowledged that a significant gap persists when it comes to gender-based financial inclusion.
ADB’s Senior Finance Director, Christine, highlighted the structural barriers that limit women’s participation in Pakistan’s formal financial sector. She stated that fewer than one in three women in Pakistan are financially included, which not only restricts their individual potential but also represents a lost opportunity for the country’s banking and economic system. Through the We Finance Code, ADB aims to support a total of 100,000 women borrowers, enabling them to access financing for existing businesses or new ventures.
The loan program is structured to offer inclusive financial products that align with the needs of women-led enterprises. Participating banks will be encouraged to develop gender-responsive lending frameworks and improve service delivery mechanisms that facilitate ease of access. As part of the rollout, targeted capacity-building workshops and digital onboarding mechanisms are expected to support new applicants and expand awareness of the program.
This strategic collaboration between SBP and ADB not only delivers much-needed capital to women entrepreneurs but also promotes policy-level changes in Pakistan’s banking environment, creating room for long-term economic empowerment. With the We Finance Code, Pakistan is taking a firm step towards reducing the gender financing gap and enabling more women to participate meaningfully in economic growth.
