Activity Description: The Pakistan Mortgage Guarantee Facility, a $5 million credit enhancement program, enables participating commercial banks in Pakistan to extend mortgages to lower-income citizens, with no current access to home mortgage financing (over 80% of residents in Karachi earn less than $2 per day).

Investors in the program include the Acumen Fund and the Overseas Private Investment Corporation (OPIC), whose combined funding will help release mortgages from the National Bank of Pakistan.

The program is expected to officially launch in March of 2006.