The revised Guidelines on MCGF
have been issued by SBP through AC&MFD's Circular No.
He briefly shared with the audience that the MCGF
of UK - 15 million has been instrumental in relaxing funding constraints of the microfinance sector in Pakistan.
SBP has advised all banks/DFIs/MFPs to finalize their funding deals under the MCGF
and submit their cases to SBP Banking Services Corporation (SBP BSC) for issuance of Guarantee as per procedure envisaged in the revised Guidelines on MCGF
Due to a new mandate, MCGF
will receive an additional 40 million manat transfer from the state to finance interest subsidy on SMEs' loans in 2018.
He said that the Microfinance Credit Guarantee Facility (MCGF
), a 10 million British pound guarantee facility, has so far mobilized commercial funding of Rs.6,325/- million to four microfinance providers for onward lending to around 200,000 new micro borrowers.
was launched by the State Bank in December 2008 with PS10 million funding support from the UK Department for International Development (DFID) under the PS50 million Financial Inclusion Program (FIP) which is being managed by SBP.
In order to incentivize the channeling of funds to the microfinance sector, SBP has designed a Microfinance Credit Guarantee Facility (MCGF
It had already launched the Microfinance Credit Guarantee Facility (MCGF
) and the Institutional strengthening Fund (ISF).
Earlier, SBP had launched the Microfinance Credit Guarantee Facility (MCGF
), Institutional Strengthening Fund (ISF), and Improving Access to Finance Services Fund (IAFSF).
SBP Governor said that the Microfinance Credit Guarantee Facility (MCGF
), a UK PS10 million guarantee facility, was launched by SBP in December 2008 to mobilize wholesale commercial funding for microfinance providers through partial guarantees to commercial banks.
Standard Chartered Bank (Pakistan) Limited has successfully closed a PKR 600 million, two year finance facility to Tameer Micro Finance Bank Limited (TMFB) under the State Bank of Pakistan's (SBP) Micro Finance Credit Guarantee Facility (MCGF
) launched under the DFID Funded Financial Inclusion Programme.