According to FMO, ASA Pakistan Ltd. is a leading microfinance institution in Pakistan and is a 100% subsidiary of ASA International Holding. ASA Pakistan, is a rapidly growing microfinance institution primarily targeting women micro-entrepreneurs, in a country that ranks 147 out of 188 countries according to the gender inequality index produced by the United Nations. Funding is needed to finance the institution's growth. In the trajectory to apply for a Microfinance Bank license, ASA Pakistan is strengthening its organization, systems and procedures. FMO's financing is expected to bring funding stability to the balance sheet of the institution alongside other international funders.
Further, the project aims to empowering mainly womenn entrepreneurs. ASA Pakistan provides loans to micro and very small businesses and therefore has positive social impact and limited environmental footprint.
ASA Pakistan Ltd. is a leading microfinance institution in Pakistan and is a 100% subsidiary of ASA International Holding. ASA International established greenfield microfinance institutions in twelve countries in Asia and Africa, including Pakistan. ASA International is the international spin-off of ASA of Bangladesh. ‘ASA’, meaning ‘Association for Social Advancement’, is one of the largest microfinance institutions in Bangladesh that engages in empowering the poor, who have no access to the traditional banking system for developing their business, the landless, the skilled labourers and marginal farmers for the improvement of their socio-economic condition.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/