The World Bank has approved a $102 million loan for Pakistan to support climate-affected poor farmers by providing them with small loans.

According to the World Bank’s statement, the funds aim to increase the income of individuals impacted by climate change and are part of the bank’s 10-year Country Partnership Program. The project will also promote financial inclusion in rural areas and support small businesses.

World Bank Country Director emphasized that microfinance is a key tool for helping low-income communities, with the initiative expected to benefit 1.89 million people, including 1 million women.

Currently, the World Bank is supporting 54 projects in Pakistan, with its total investment in the country reaching $15.7 billion.