Gilgit-Baltistan: Samarkar launched to boost women-led enterprises

KARACHI: Karandaaz Pakistan, in partnership with Karakoram Cooperative Bank Limited (KCBL) and the National Credit Guarantee Company Limited (NCGCL), has launched Samarkar – a pioneering de-risking facility designed to expand access to finance for women-led micro, small, and medium enterprises (MSMEs) in Gilgit-Baltistan (GB).

The initiative targets women entrepreneurs operating in agriculture, handicrafts, tourism, and small-scale trade, who often face limited financial literacy and minimal access to institutional credit.

Under the program, KCBL – the largest cooperative bank in GB with over 50 branches and 16,000 MSME borrowers – will mobilize financing for women-led businesses, while Karandaaz will provide credit risk coverage through NCGCL to de-risk lending. This structure blends market-based liquidity with concessional risk-sharing, enabling affordable financing for women entrepreneurs at scale.

Beyond direct lending, Samarkar aims to strengthen KCBL’s gender finance portfolio, identify high-potential business clusters, establish a replicable risk-sharing model, and generate data-driven insights to inform future financial inclusion policies.

Speaking at the launch, Chief Secretary Gilgit-Baltistan Abrar Ahmed Mirza said: “Women in GB play a crucial role in sustaining households and communities, yet their potential as entrepreneurs remains underutilized. Samarkar is a landmark initiative to unlock inclusive growth where women are not just participants but drivers of regional prosperity.”

Karandaaz CEO Waqas ul Hasan added: “Inclusive growth begins with equitable access to finance. Samarkar enables women entrepreneurs in Gilgit-Baltistan to turn their ideas into enterprise and their enterprise into lasting impact.”

KCBL CEO Maqsad Ali highlighted the transformative role of financial inclusion, saying the initiative allows women with skills and ambition to access the finance they need, supporting stronger families, communities, and a resilient local economy.

NCGCL Company Secretary Falak Raja emphasized the importance of risk-sharing mechanisms in unlocking credit for underserved segments, enabling women entrepreneurs to access capital and drive economic growth.

Through this collaboration, Karandaaz, KCBL, and NCGCL aim to create a scalable, gender-focused financing model that can be replicated across Pakistan, empowering women to lead local economic transformation.

Copyright Business Recorder, 2025