At COP28 in the UAE, Mobilink Bank, the main provider of digital microfinance in Pakistan, reaffirmed its commitment to gender-responsive climate finance. The integration of gender into green financing is crucial for effective climate action, according to Haaris Mahmood Chaudhary, Chief Operating Officer.
Mobilink Bank aligns its principles with digital inclusion, diversity & inclusion, and sustainability as a member of the VEON group. With a focus on loans for agricultural use of renewable energy, the bank has committed more than PKR 1.6 billion in green financing.
Mobilink Bank provides resources, expertise, and decision-making authority to women in the agriculture industry through its Women Inspirational Network (WIN) initiative. The bank has assisted over 140,000 women in navigating climate concerns by providing financial solutions.
In addition to digital, financial, and agritech solutions for sustainable agriculture practices, approximately 66,000 female clients have received subsidized credit totaling more than PKR 12 billion.
“As a responsible organization, we aim to drive sustainability through green financing and foster financial inclusion for all,” Haaris Chaudhary stated. “Mobilink Bank is committed to expanding its green financing loan to accelerate climate action efforts.”
Future objectives for Mobilink Bank include providing climate-related insurance to farmers, promoting clean-energy products, including low-carbon agriculture, and enabling Sharia-compliant financing for solar panels.