Mobilink Microfinance Bank is launching a school loan to support schools to deliver high quality education financially

The School Loan – a groundbreaking scheme designed to provide financial empowerment to all non-state schools – local private schools, school chains, and professional educating institutions – working in rural, semi-urban and urban areas with quality education – was introduced by Mobilink Microfinance Bank Limited (MMBL).

Access to the financing of important tasks related to employee growth, improvement of productivity, the design or reconstruction of school buildings, lab construction or extension, purchasing of furniture or electronic equipment, and fulfilling operational criteria is always lacking in the country for educational institutions.

MMBL School Loan provides finance for up to three million PCRs under terms and terms specially tailored for educational institutions to fulfill their funding needs, accessible through a vast branch network of the bank across Pakistan. Via the School loan, MMBL is intended to help borrowers continue to provide children around the world with access to quality education.

Speaking about the School loan, Muhammad Asim Anwar, CEO of MMBL, said: "A loan product is badly needed that addresses the financing needs of the educational sector in Pakistan because lack of funding and financial constraints are the biggest obstacles that many private schools and institutions of technical education face while planning to improve and improve the scholarship. We are pleased to contribute to ensuring unhindered access for children in the world to higher education."

Pakistan has an estimated 22.8 million children aged 5 to 16 who do not attend school, comprising 44% of the total population in this age range, according to United Nations Unicef. Pakistan is the second largest number in the world. The school loan of MMBL is consistent with the UN Sustainable Development Goal # 4 - Ensuring inclusive and fair quality education and promoting lifetime learning opportunities for all. Economic and financial empowerment for a developing nation such as Pakistan is crucial to unimpeded access to education for everyone. The aim of MMBL is to continue playing a key part as a socially responsible business citizen in helping the country to advance its path to growth.