The State Bank of Pakistan (SBP) has officially launched the Women Entrepreneurship (WE) Finance Code, an international initiative designed to expand access to financing for Women Micro, Small, and Medium Enterprises (WMSMEs). The program seeks to foster incentives, transparency, and accountability in the financial system to help close gender gaps and strengthen women’s economic resilience worldwide.
The WE Finance Code was first launched by the World Bank Group in 2023 as a collaborative effort involving 14 governments and 8 multilateral development agencies, including the World Bank (WB), Asian Development Bank (ADB), GIZ, European Bank for Reconstruction and Development (EBRD), and Islamic Development Bank (IsDB).
To date, regulators and central banks from 18 countries have signed onto the initiative with support from technical partners. Among them are the UK, Egypt (EBRD), Sri Lanka and Fiji (ADB), Indonesia (IsDB), Nigeria (WB), Tajikistan, and Uzbekistan (EBRD).
Pakistan joined the initiative in February 2025, with SBP serving as the official WE Finance Code Anchor. The Asian Development Bank (ADB) has partnered as the technical advisor, working alongside national and international consultants to support the program’s rollout.
As a signatory, SBP is now positioned to mobilize stakeholders across Pakistan’s financial ecosystem to tackle persistent challenges in WMSME financing. The initiative emphasizes building public-private coalitions to introduce targeted interventions, ensuring that women entrepreneurs have better access to capital and business development opportunities.
According to SBP, the benefits of adopting the WE Finance Code extend beyond empowerment. Banks that sign onto the Code can position themselves as leaders in women’s economic empowerment while unlocking new business prospects and achieving better risk diversification.
The WE Finance Code Champion’s network provides a data-driven, multi-stakeholder platform designed to harmonize financing approaches, improve documentation and definitions, and facilitate effective strategies for supporting women-led enterprises.
SBP notes on its official website that expanding financial services for women could increase revenues for Pakistan’s financial service providers by an estimated $650 million, underscoring the economic potential of greater gender inclusion in the financial sector.
By aligning with global best practices and creating accountability frameworks, the WE Finance Code offers Pakistan a chance to transform how women entrepreneurs access finance, paving the way for a more inclusive and resilient economy.
