Pakistan: supporting access to financing for women entrepreneurs

Kashf Foundation is a microfinance institution (MFI) founded in 1996 by Mrs. Roshaneh Zafar. It has become an emblematic institution through its social mission and its action for women and their economic and social empowerment. 99% of Kashf’s clients are women. This mission is realized via the allocation of microcredit and microinsurance, but also via programs to provide financial education and support young women entrepreneurs and programs to raise awareness of gender equality for the spouses and children of its women clients. In 2016, Kashf became first Pakistani institution to win the European Microfinance Award. Kashf  also won the COVID-19 Action Award at the UN Women Asia Pacific’s Women’s Empowerment Principles Awards -2020.

Proparco’s financing is earmarked to support the growth in Kashf’s portfolio in a country where the level of financial inclusion is low.

This project is expected to support local employment, with 27 900 indirect and 300 direct jobs expected in 5 years' time in Pakistan, which will make a significant contribution to the country’s development.

The project is also expected to provide 54 000 entrepreneurs, mainly women, with access to new or improved financial services over the next five years. 

As 50% of Kashf’s workforce are women and all micro-finance products are designed for women needs (women account for 99% of Kashf Foundation's clients), Kashf’s financing is thereby qualified as a 2X Challenge project. Kashf Foundation also offers training and awareness-raising programs to its women clients and their spouses on the theme of gender equality.