Lahore, Pakistan — Proparco has announced the renewal of its partnership with Kashf Foundation through a $15 million loan aimed at empowering women entrepreneurs and expanding Kashf’s client base. This marks the third collaboration between the two organizations since 2017, underscoring a shared commitment to advancing financial inclusion and gender equality in Pakistan.
Founded in 1996 by Ms. Roshaneh Zafar, Kashf Foundation has been a trailblazer in breaking barriers for women-led businesses. The institution has become a symbol of women’s economic and social empowerment, offering more than just microcredit and micro-insurance. It provides financial education, mentorship for young women entrepreneurs, and programs promoting gender equality within its clients’ families.
The renewed partnership aligns with Proparco’s 2023-2027 strategic goals of fostering a sustainable economy and addressing gender disparities. By supporting Kashf Foundation’s growth strategy, this initiative aims to expand financial services for women in underserved regions of Pakistan and enhance access to micro-insurance products to build resilience against climate change.
Speaking about the partnership, Djalal Khimdjee, Deputy CEO of Proparco, stated:
“We are delighted to strengthen our long-term partnership with Kashf Foundation through this $15 million transaction. This collaboration supports Kashf’s efforts to deploy financial inclusion services in underserved regions and develop micro-insurance products to help clients become more resilient to climate change. The project reflects Proparco’s regional priorities: reducing gender inequalities, increasing economic opportunities, and fostering climate resilience.”
Ms. Roshaneh Zafar, Founder and Managing Director of Kashf Foundation, remarked:
“At Kashf, we’ve seen what happens when women are given the chance to lead. They not only lift themselves out of poverty but also uplift entire communities. This partnership with Proparco allows us to extend that impact, empowering women to shape their destinies and inspire others to follow.”
The project, eligible under the 2X Challenge initiative for women’s economic empowerment, is expected to generate significant impacts. Over 70,000 additional micro-loans will be disbursed, driving greater financial inclusion and empowering women entrepreneurs across Pakistan.
This collaboration highlights the transformative potential of targeted financial support in fostering gender equality and creating resilient communities in the face of economic and environmental challenges.
