LAHORE The National Rural Support Programme, the largest microfinance organisation in Pakistan to focus on rural, agricultural markets, has launched a fully regulated, deposit-taking, privately-owned microfinance bank. The Bank has been awarded a license by State Bank of Pakistan to operate nationwide. The National Rural Support Programme has partnered with Acumen Fund, International Finance Corporation and Kreditanstalt fur Wiederaufbau (KfW) as share holders in National Rural Support Programme Microfinance Bank. The Banks mission is to reduce poverty by providing low income rural farmers with timely access to essential financial services such as crop and livestock loans on simple and affordable terms, as well as deposit products to encourage savings, enabling economic well-being. This $1.9 million investment is the latest in Acumen Funds expanding Pakistan portfolio and signals our continued commitment in the country to building transformative businesses that serve the poor for the long-term, said Aun Rahman, Country Director of Acumen Fund Pakistan. Acumen Fund continues to focus on scalable, innovative methods for providing resources, dignity and hope to the poor, he added. As per press release issued here on Tuesday, Pakistans financial sector remains inaccessible to the majority of low income Pakistanis, and an estimated 86 per cent of the adult population had no access to formal financial services. The National Rural Support Programme Bank is expected to reach nearly 625,000 borrowers nationwide over the next five years. The Bank will provide access to financial services to small and poor farmers. This will enable them to militate against rising inflation and food prices. said Dr Rashid Bajwa, Chairman National Rural Support Programme Bank. It will also help those struggling farmers affected by floods to restore their livelihoods and restore hope. The Bank is poised to be the first of its kind in Pakistan and the region. Acumen Fund has been investing patient capital in Pakistan since 2002 in our effort to provide the critical goods and services that empower Pakistanis to improve the livelihoods of themselves and their families, said Acumen Fund CEO, Jacqueline Novogratz. Through the expansion of National Rural Support Programme, Acumen aims to improve the quality of life of hundreds of thousands of Pakistanis.