**Millions in Pakistan Still Unbanked, ADB Highlights**
The Asian Development Bank (ADB) has shone a spotlight on financial inclusion in Pakistan, revealing that a significant portion of the population remains without access to formal banking services.
A recent ADB report indicates that over 1 billion people across developing nations, including Pakistan, are “unbanked.” In Pakistan, only 21% of adults have either a traditional bank account or a mobile money account.
The report highlights that many individuals rely on informal networks for their financial transactions, and a significant gender gap exists, with women’s access to banking services being only half that of men.
However, there’s a silver lining: digital finance offers a major opportunity to address this disparity. The ADB acknowledged the rapid progress Pakistan has made in expanding financial services over the past 15 years.
Between 2019 and 2024, the number of accounts in financial institutions surged by an impressive 127%. This growth means that 91 million adults in Pakistan now have individual accounts.
The article also reference that, last year, Pakistan secured a US$200 million loan agreement with the ADB. These funds are earmarked for the energy sector, specifically to enhance infrastructure and services provided by entities like LESCO, MEPCO, and SEPCO. The signing ceremony was attended by Secretary Dr. Kazim Niaz from the Ministry and Deputy Country Director Asad Aleem representing the ADB.