Tokyo, 21 March 2012 – The Aga Khan Agency for Microfinance (AKAM) and the Japan International Cooperation Agency (JICA) signed an agreement today for the entry of JICA into the shareholding of the First Microfinance Bank (FMFB) in Pakistan, which is one of the largest microfinance banks in the country. This agreement will see JICA invest approximately US$ 2.23 million in new equity into the bank and become a 17.8% shareholder. JICA will also provide the bank with technical assistance to target new market segments and further develop its human resources. FMFB has also signed shareholding agreements with the International Finance Corporation (IFC) and the Aga Khan Rural Support Program.
Ismailimail 