The plan is to increase financial inclusion in rural areas from the current 50 percent to 75 percent.

Users can quickly connect to Paysend’s global payments network and instantly and cost-effectively send funds to 25 countries and currencies seven days per week, 365 days per year.

The three Mobilink Microfinance Bank initiatives include low-cost 4G handsets for customers bundled with the bank’s digital banking application, e-commerce services for female entrepreneurs, and an agriculture advisory service for farmers in Pakistan. 

The agreement was concluded as part of the Regional Investments initiative launched by BCP to assist innovative Moroccan solutions.

The investment will allow the bank to strengthen its lending operations for women-owned micro, small, and medium enterprises in the underserved regions of the country.

The three-year project aims to eliminate barriers in access to finance for young entrepreneurs, create income generation opportunities and promote financial inclusion and growth.

Under this agreement, Karandaaz has committed a grant to FINCA Microfinance Bank Pakistan for initiating and running an exploration program that will help FINCA design gender-sensitive products and communication strategy with the aim of reducing the gender gap.

The local currency-denominated senior non-preferred sustainability bonds will help the bank increase its lending to businesses investing in climate-smart initiatives—green buildings, renewable energy, energy efficiency, clean transportation, sustainable agriculture, and others.

The workshop will be delivered in English with French and Arabic interpretation.

The pan-African financial institution will use the funds to finance the green transition through sustainable infrastructure in Africa.