IFL Scheme disburses 1,805,297 loans worth Rs. 64.87 billion since inception

ISLAMABAD, Jun 9 (APP): A total of 1,805,297 loans (49 percent loans to women) worth Rs. 64.87 billion have been disbursed under the Interest Free Loan (IFL) Scheme since its inception in July 2019 till March 2022.

According to the Economic Survey 2021-22, unveiled by the Federal Minister for Finance, Miftah Ismail, Federal Minister for Planning, Development and Reforms, Ahsan Iqbal and Federal Minister for Power, Engineer Khurram Dastgir in a press conference on Thursday, a total of 389,238 interest free loans (61% loans to women) amounting Rs 14.41 billion have been disbursed to the borrowers during July 2021- March 2022.

The program is being executed through 768 loan centers or branches in about 75 districts by 21 partner organizations across the country.

The IFL is one of the major components of the initiative being implemented by the Pakistan Poverty Alleviation Fund (PPAF) through its 21 partners organizations.

The range of interest-free loans is Rs 20,000 – Rs 75,000. As many as 2.8 million interest-free loans will be provided (50,000 loans a month) for the next four years to 1.7 million households.