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The French authorities’s growth company, Proparco, has cast a partnership with Pakistani monetary companies to bolster women-led companies and promote inexperienced applied sciences in Pakistan. Announced on Tuesday, this collaboration marks Proparco’s first-ever credit score threat assure within the nation.
Founded in 1977, Proparco focuses on offering monetary assist to companies in growing and rising markets. In Pakistan, it has teamed up with Karandaaz and Parwaaz Financial Services Limited (PFSL) to boost financing choices for small and medium-sized enterprises (SMEs).
The partnership was unveiled throughout a signing ceremony in Islamabad, which additionally featured a panel dialogue on strengthening gender and local weather finance. The occasion gathered specialists and stakeholders to discover the challenges and alternatives in these crucial areas.
Karandaaz, in a press release, highlighted the importance of the collaboration, noting that it represents Proparco’s inaugural credit score threat assure in Pakistan.
The organisation has already dedicated over $4.3 million to fund roughly 90 SMEs by its current initiatives. The new partnership with Proparco is predicted to additional develop credit score entry for small companies within the nation.
French Deputy Head of Mission Guillaume Dabouis voiced his nation’s assist for the partnership, stating that it aligns with France’s dedication to selling sustainable financial growth and gender equality in Pakistan.
Diane Jegam, Proparco’s South Asia Regional Director, hailed the partnership as a big transfer in the direction of unlocking the potential of Pakistani SMEs, significantly these led by ladies and centered on local weather motion.
Waqas ul Hasan, CEO of Karandaaz, expressed enthusiasm in regards to the collaboration, emphasising its significance in advancing financing for women-led companies and scaling up progressive inexperienced applied sciences.
