LAHORE   -  Visa Foundation has announced $250,000 in funding to support small and micro businesses (SMBs) in Pakistan. This funding includes grants to programs that provide SMBs with training, support services and access to capital, with a gender inclusive and diverse lens. The local recipient of the grant is Akhuwat, which is the world’s largest interest-free microfinance organization that works to alleviate poverty and empower socially and economically marginalized communities. The organization received the funding to support COVID-19 relief loans with an emphasis on female-led small businesses. The funding is part of Visa Foundation’s Equitable Access Initiative, a $200 million strategic commitment announced in April 2020 to address longer-term needs of SMBs, with an emphasis on fostering women’s economic advancement, which will be critical to long-term economic recovery from the COVID-19 pandemic. “SMBs are the backbone of the economy. It is crucial to empower SMB-owners and entrepreneurs with resources, knowledge and skills that can support them in rebuilding -or starting- stronger businesses in the current context,” said Kamil Khan, Visa’s Country Manager for Pakistan. “At Visa we are proud that Visa Foundation is funding an organization such as Akhuwat that are addressing the needs and helping to unlock barriers for funding that gender diverse and inclusive SMBs face in Pakistan, and in doing so, helping build stronger communities where everyone can thrive.”