PMIC closed first ever “Social Impact Bond”

PMIC along with Bank Al Falah and Arif Habib Ltd. closed first ever “Social Impact Bond” of Rs. 3.5 bn. for U Microfinance Bank. The proceeds of the Bond will be deployed for empowering small and medium enterprises across Pakistan with a strategic focus towards women borrowers in rural and peri-urban markets. The Bond will offer KIBOR based financial returns along with Social Impact outcome to its investors. The Bond is rated “AA-” by PACRA.