No Pakistani stadiums at par with international standards, PCB chairman says ahead of Champions Trophy

KARACHI: HBL Microfinance Bank (HBL MfB) has signed a Risk Sharing Agreement (RSA) with the International Finance Corporation (IFC), a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets.
The facility, which is supported by the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP), will allow HBL MfB to share 50 percent of the risk on its microfinance loan portfolio of up to $80 million with IFC on an unfunded basis. The collaboration aims to enhance access to finance for smallholder farmers and microenterprises across the country, with a strong focus on women entrepreneurs.
“This RSA is another milestone, reinforcing the Bank’s legacy of innovation and leadership in addressing the evolving financial needs of underserved communities,” HBL said in a statement. 
“By being the first microfinance bank to establish an agreement on such a scale, HBL MfB is not only pushing boundaries but also redefining industry standards, ensuring that microfinance remains a catalyst for empowerment and economic growth.”
HBL said the RSA exemplified the bank’s approach toward leveraging strategic partnerships to strengthen financial resilience, expand lending capabilities, and maintain sustainable growth.
“This partnership with IFC is a testament to our commitment to financial inclusion. The facility serves as a replicable model for strategic partnerships that mitigate market challenges while driving sustainable development,” Amir Khan, President and CEO HBL Microfinance Bank, said in a statement.
“By pioneering this Risk Sharing Facility in the microfinance sector, we are ensuring that underserved segments of the society — especially small business owners and farmers, particularly women, have access to the capital they need to thrive. We are thankful to IFC for their trust in us and look forward to the growth and progress it will bring for underserved Pakistanis.”
Momina Aijazuddin, Regional Head of Financial Institutions Group at IFC, said boosting access to finance, especially for smallholder farmers, small businesses and women, could be a “gamechanger” in Pakistan. 
“With this in mind, IFC is excited to support this pioneering risk sharing facility which aims to de-risk HBL MfB’s on-lending activity to its microfinance clients and support critical growth opportunities in agriculture, entrepreneurship, and women’s empowerment,” Aijazuddin said. 
“This agreement will accelerate financial inclusion, and further HBL Microfinance Bank’s mission of creating a more inclusive and resilient financial ecosystem in Pakistan.”
Despite challenging macroeconomic conditions, microfinance banks (MFBs) have continued to expand their outreach to the low-income population of Pakistan. Although MFBs account for only 1.3 percent of total financial sector assets, they have a broad customer base. Over the past five years, MFBs’ total assets grew by an average of 19.1 percent annually, according to government data. 

ISLAMABAD: Pakistan on Wednesday emphasized at the United Nations Security Council (UNSC) the need for a credible and peaceful political transition in Syria to ensure stability, while calling for the removal of sanctions on past leadership, saying their continuation was now hurting the Syrian people.
The statement came hours after Syria’s Foreign Minister Asaad Al-Shaibani announced his country would have a new government “representing the Syrian people as much as possible,” set to be launched on March 1.
Shaibani shared the plan on the sidelines of the World Governments Summit in the United Arab Emirates while discussing the situation following the overthrow of former President Bashar Assad.
“We take note of the assurance from the caretaker Foreign Minister today in Dubai that a new government will be launched on March 1st and will represent the Syrian people as much as possible and take its diversity into account,” Ambassador Munir Akram, Permanent Representative of Pakistan to the UN, told the UNSC briefing on Syria.
“The path to peace and stability in Syria requires a credible political transition, national unity and an inclusive governance framework,” he added. “The international community must remain engaged and constructive in supporting this process. Pakistan stands firmly with the brotherly and resilient people of Syria.”

Akram welcomed the Riyadh Meetings on Syria hosted by Saudi Arabia last month, calling them crucial in fostering dialogue, promoting an inclusive political transition and aiding Syria’s reconstruction within a Syrian-led framework.
The Saudi-hosted discussions focused on post-conflict reconstruction, refugee repatriation, counterterrorism and strengthening regional and international cooperation.
“Sanctions remain a major obstacle to Syria’s recovery,” Akram said. “Unilateral sanctions, originally imposed on past leadership, now primarily harm the Syrian people. These must be reassessed and reviewed to facilitate economic recovery and humanitarian relief.”
“UN sanctions should also be periodically reviewed to ensure they do not impede Syria’s reconstruction while maintaining vigilance against terrorist-affiliated entities,” he continued. “A balanced and pragmatic approach is needed to address economic hardships and the humanitarian crisis.”
The Pakistani diplomat also raised concerns about the reported presence of militant groups in Syria, warning against the Arab state becoming a safe haven for extremist groups.
“The presence of foreign fighters and groups with known terrorist affiliations requires vigilance,” he said. “Any resurgence of Al-Qaeda, [Daesh], and their affiliated groups must be prevented. We are also concerned at reports of the inclusion of foreign terrorist groups in Syria’s governing structure. No foreign fighters or armed entities should operate outside the State’s control.”