The government has requested the World Bank for restructuring and extendingthe $137 million Pakistan Financial Inclusion and Infrastructure Projectaimed at increasing access and usage of digital payments and otherfinancial services.
According to the official documents, the project has experienced delayswith implementation of planned payment system upgrades andoperationalization of the risk sharing facility in support of bank lendingto small and medium enterprises (SME) which offer opportunities foradditional project impact.
In November 2022, the government requested to restructure and extend theproject. Given the acute impact of the floods of 2022 and mitigationefforts of Covid-19 on the microfinance sector, it was requested that theRSF/CDNS funds be reallocated to the Line of Credit (LoC).
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The LoC would prioritize those in the flood impacted areas, with a revisedoperations manual.
