July 2016 will see the launch of the world's first national wholesaler of funds for microfinance lenders – the Pakistan Microfinance Investment Company (PMIC). With pedigree international backers, it will address the anomaly of relatively good growth and high demand for microfinance in Pakistan but low penetration.
PMIC's shareholders are effectively the UK's Department for International Development, Germany's KfW and the Pakistan Poverty Alleviation Fund. Its role will be to deliver funding and nurturing for the country's 51 microfinance providers – 10 banks and 41 non-bank finance companies (NBFC). PMIC is itself a NBFC.
