The State Bank of Pakistan has formally launched the Women Entrepreneurship (WE) Finance Code, marking a significant step toward bridging the gender financing gap and strengthening economic opportunities for women across the country. This move positions Pakistan among a growing list of nations embracing collaborative frameworks to expand financial support for women-led businesses.
The WE Finance Code is a global initiative introduced by the World Bank Group in 2023. It was developed through the combined efforts of 14 governments and eight major multilateral development agencies, including the World Bank, Asian Development Bank (ADB), German Agency for International Cooperation (GIZ), European Bank for Reconstruction and Development (EBRD), and Islamic Development Bank (IsDB). The program’s core aim is to encourage financial institutions around the world to disclose their levels of funding for Women Micro, Small, and Medium Enterprises (WMSMEs), while also promoting incentives, accountability, and transparency.
So far, regulators and central banks from 18 countries have signed and rolled out the Code, working alongside various technical partners. Countries already implementing the program include the UK, Egypt, Sri Lanka, Fiji, Indonesia, Nigeria, Tajikistan, and Uzbekistan. Pakistan became an official signatory in February 2025, with the State Bank of Pakistan assuming the role of anchor institution for the initiative domestically. In Pakistan’s case, the ADB is serving as the primary technical partner, supported by local and international consultants to drive the program forward.
By championing the WE Finance Code, the SBP aims to address persistent barriers that limit financing for women entrepreneurs. The central bank plans to engage both public and private sector stakeholders to close these gaps, leveraging multi-stakeholder coalitions that can introduce targeted measures across the banking industry. The program offers banks a strategic opportunity to position themselves as leaders in women’s economic empowerment, tapping into new business avenues while also enhancing portfolio diversification and risk management.
A unique feature of the WE Finance Code is the establishment of a data-driven network that fosters collaboration among regulators, financial service providers, and development partners. This approach is expected to create synergies that not only improve access to finance for WMSMEs but also help standardize definitions and streamline documentation processes across the sector. The result could be more consistent and effective support for women-owned businesses, benefiting the broader economy in the process.
The potential economic impact is substantial. According to insights shared on the SBP’s official website, expanding financial products and services for women customers could unlock as much as $650 million in additional banking revenues for Pakistan’s financial service providers. This underlines the strong business case alongside the social imperative for supporting women entrepreneurs.
With the formal rollout of the WE Finance Code, Pakistan’s financial landscape stands to evolve in meaningful ways. As more local banks and institutions align with the program’s objectives, the country could witness not only enhanced economic resilience but also a more inclusive ecosystem that enables women entrepreneurs to thrive.