InfraZamin Pakistan’s full credit risk guarantee cover of PKR 2833 Mn (USD 10 Mn) covering 100% principal amount and two interest installments under social infrastructure which will effectively de-risk the investor of the Gender Bond from any credit defaults of Kashf Foundation. This transaction paves the way for introducing credit guarantees in capital market and development of domestic capital markets. This is also the first AAA rated microfinance instrument in the market.
The bond proceeds will support the Kashf Foundation in providing micro-loans to women in the rural and peri-urban cities of Pakistan for:
- Buildup, upgradations, and renovation of the physical infrastructure of female-led businesses
- Buildup, upgradation of school building and improvements
- Buildup, upgradation of flood impacted houses
The bond proceeds will allow Kashf Foundation to deploy about 30,000 new micro-loans and create about 30,000 to 60,000 new jobs.
Awards and Recognitions:
- Asia Pacific Wrap of the Year 2023 award by IJGlobal Awards 2023!
- Best New Initiative for Women’s Financial Empowerment – Pakistan 2024 award by the Women’s Tabloid Awards 2024.
- 2024 Global Banking & Finance Awards®️:
- Gender Bond Deal of the Year South Asia 2024
- Gender Bond Deal of the Year Pakistan 2024
- Best Financial Institution for Empowering Women in Business Pakistan 2024
- Best Women Empowerment Initiative – Gender Bond – Pakistan 2024 by International Finance Awards 2024.
- Most Innovative Bond for Financial Empowerment and Inclusion for Women – Gender Bond Pakistan 2024 by Global Business Magazine.
- Most Innovative Credit Enhancement Facility 2024 – Pakistan by Worldwide Finance Awards 2024.
- Outstanding Performer recognized by NBFI & Modaraba Association for pioneering the issuance of South Asia and Pakistan’s First Gender Bond
