IFC's financing is expected to help TBC Bank further grow its SME and climate finance portfolios. In addition, the project will help strengthen Georgia's climate finance market by promoting best practices in sustainable lending.

Mobilink Bank is actively promoting climate finance in Pakistan, enabling individual borrowers and SMEs to access financing for solar energy products.

This concern is not new; the microfinance sector has been grappling with severe challenges for a couple of years. 

Advans Pakistan Microfinance Bank Limited, the target of the acquisition, represents the Pakistani branch of the renowned Advans Group, a leading international microfinance group with operations spanning nine developing countries.

Since launching in 2022, the program for Ukrainians, which includes business mentoring services in addition to micro-finance, has helped over 30 Ukrainian entrepreneurs to support themselves and other refugees.

Ericsson and Telenor Microfinance Bank have signed a multi-year extension of their partnership to propel easypaisa’s financial services offerings and expand the horizon of their service portfolio within the fintech sector in Pakistan.

The reforms are expected to benefit both individuals and companies through increased access to financial products such as credit and digital payments, as well as improved consumer protection supervision.

The awardees include HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic Digital Bank Limited and Telenor Microfinance Bank Limited.

President, Dr. Arif Alvi urged the banking institutions to take measures to further strengthen financial inclusion and gender equality in the sector. 

Symbiotics Investments' loan represents the first-ever local currency loan by any international institution in the microfinance sector of Pakistan.