The World Bank has approved a sum of $102 million in financing 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 news release issued by the World Bank’s Resident Mission in Islamabad.

In February, a World Bank delegation visited the country to touch base on Pakistan’s economic reforms, including the privatisation agenda as a follow-up to the Country Framework Programme (CPF) finalised in January with indicative assistance of about $20 billion.

“Microfinance is a critical tool for supporting the........

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