Pakistan, March 19 -- The World Bank has approved a $102 million loan for Pakistan to support its Resilient and Accessible Microfinance (RAM) Project. This financing aims to help nearly 1.9 million people, especially low-income households, across the country. The project focuses on improving access to microcredit, particularly for those affected by climate-related challenges.

The RAM Project will provide much-needed funds to microfinance institutions. This will enable them to continue offering loans even in tough financial situations caused by climate events. A key feature of the project is the introduction of "recovery loans." These loans will help individuals and small businesses regain their financial footing after facing hardships. ...