51793 - PMICL RPF

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Summary of Investment Information

Project Number

51793

Company Name

Pakistan Microfinance Investment Company Limited

Date SPI Disclosed

Jul 6, 2026

Country

Pakistan

Region

Middle East

Projected Board Date

Aug 28, 2026

Environmental Category

FI-3 - No Impact

Status

Pending Approval

Last Updated Date

Jul 6, 2026

Department

Regional Industry FIG MCT

Industry

Financial Markets

Sector

Microfinance and Small Business - Non Commercial Banking

Additional Project Attributes

Blended Finance

Project Description

The proposed project is a 50:50 unfunded Risk Participation Facility (RPF) with Pakistan Microfinance Investment Company Limited (PMIC or the Company) – an apex wholesale funding provider for microfinance (MF) entities in Pakistan – covering an aggregate loan portfolio of up to US$-100-] million (equivalent in Pakistani Rupees/PKR). IFC’s own account exposure will be up to US$50 million (equivalent in PKR). The underlying portfolio will consist of PKR denominated; short-to-medium term loans originated by PMIC to select MF entities (MF obligors) aiming to enhance the Company’s ability to provide additional liquidity to such MF obligors for on-lending to microfinance borrowers and microfinance enterprises including small holder farmers and women (the Project).

The Project is expected to be supported by the IFC-UK Climate Adaptation and Innovation Investment Facility for Pakistan (CIFPAK) as described in the Blended Finance Section.

Associated Advisory Engagement

In addition to financial support, PMIC may benefit from access to IFC’s global expertise in areas like climate smart agriculture and reporting.

Sponsor / Cost / Location

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Guarantee	Loans to Microfinance

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

IFC’s RPF will provide an effective risk mitigation tool to PMIC to support the Company’s PKR denominated on-lending across a pool of pre-screened eligible MF obligors in Pakistan. Without the Project, PMIC’s lending and liquidity support to eligible MF obligors will remain constrained, due to high sector risk and availability of limited de-risking solutions in the market.

Indicator	Metrics	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of Outstanding Loans, Microenterprises	number	Not Available	Not Available	Not Available
Number of Outstanding Loans, Women-led Microenterprises	number	Not Available	Not Available	Not Available
Value of Outstanding Loans, Microenterprises	$	Not Available	Not Available	Not Available
Value of Outstanding Loans, Women-led Microenterprises	$	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The Project consists of an unfunded Risk Participation Facility (RPF) with PMIC, an apex wholesale funding provider to Microfinance Institutions (MFIs) and Microfinance Banks (MFBs) in Pakistan. The underlying portfolio will comprise short to medium-term loans extended by PMIC to eligible microfinance obligors for on-lending to microenterprises and low-income borrowers, with a focus on women and rural populations, including agriculture-related activities. PMIC’s portfolio is composed of end-use lending limited to microloans, and is primarily concentrated in low-risk sectors such as services, trade, agriculture, small-scale manufacturing, housing, and consumption lending. PMIC does not currently have exposure to coal-related projects or activities on the IFC Exclusion List. Overall E&S risks associated with the project are low, with minimal or no adverse environmental or social impacts. Therefore, the Project has been classified as FI-3 as per IFC’s Policy on Environmental and Social Sustainability.

The Project will not support activities or borrowers involved in higher-risk business activities that may include: (i) involuntary resettlement; (ii) risk of adverse impacts on indigenous peoples; (iii) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage; (iv) risk of retrenchment; or (v) significant occupational health and safety risks. The main E&S risks and impacts of this Project relate to PMIC having adequate systems and capacity in place to manage E&S risks in underlying microfinance portfolio in line with the IFC’s applicable E&S requirements. The Project will not support activities in IFC's Exclusion List, and will adhere to E&S laws and regulations of Pakistan. PMIC’s ESMS requirements, including E&S screening, risk categorization, and monitoring, will be applied to partner microfinance entities through its lending procedures and contractual arrangements, ensuring that E&S requirements are cascaded to underlying sub-borrowers. Additionally, PMIC will be required to maintain alignment with life and fire safety requirements, and the requirements of IFC Performance Standard 2 (PS2) on Labor and Working Conditions.

Contacts

For Inquiries About the Project, Contact

Pakistan Microfinance Investment Company
Yasir Ashfaq
Chief Executive Officer
+92 51 84 87 820 (Ext. 111)
yasir.ashfaq@pmic.pk
21st Floor, Ufone Tower, Blue Area, Islamabad, Pakistan.
www.pmic.pk

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