State Bank of Pakistan SBP has introduced refinancing and credit guarantee scheme in the undeveloped areas for women employers.
Governor SBP said while addressing in Quetta that it is the first time in country’s history that a scheme for small business of women employers has been introduced with 0% refinance rate and 60% risk coverage.
Governor said that this is a positive step by SBP and its purpose is to encourage funding to small enterprises by women employers in the undeveloped areas of Pakistan. There are at least 20% funds allocated for Baluchistan. He said that State bank will provide refinancing to banks on 0% rate according to this scheme. Maximum amount of the loan is Rs. 15 lac and its maximum period is 5 years which also include grace period of up to 6 months. The mark up on loan for women employers will be 5%.
On that occasion, speaker Balochistan assembly Raheels Durrani appreciated this scheme by SBP for small women employers of Pakistan especially Balochistan. She expressed her hope that such schemes will create progress in the province by helping women to overcome their financial problems.