EU Launches Second Phase of ‘Mala’ Financial Program to Boost Microfinance in Afghanistan

The European Union, in collaboration with the Afghanistan Capital Growth Fund (ACGF), has launched the second phase of the ‘Mala’ financial program, allocating 15 million euros to improve access to financial resources and strengthen the microfinance system.

According to released information, this phase is designed with a focus on strengthening the microfinance sector to enable small and medium-sized enterprises, especially women-led companies and agriculture-related activities, to access the capital needed to expand their businesses.

The European Union emphasized that sustainable access to financial services plays a key role in local economic growth and job creation, and enhancing microfinance can help reduce the existing barriers faced by these enterprises.

The ‘Mala’ program is among initiatives aimed at promoting financial inclusion and facilitating the growth of small economic activities across various regions of Afghanistan.