The National Bank of Pakistan (NBP) is broadening its agricultural loan program to foster women’s participation in the agricultural sector. Recognizing the distinct challenges faced by women in agriculture, NBP is offering a comprehensive package of benefits and concessions aimed at eliminating financial barriers and promoting increased female involvement.
To empower women in agriculture, NBP is introducing discounted markup rates on loans, removing minimum earning requirements, offering flexible terms, and prioritizing swift loan processing. These measures ensure that women have timely access to financing for long-term investments in equipment and resources.
NBP’s Agricultural Loan Program presents a competitive markup rate of 7% to all farmers. The loan can be utilized for a diverse array of agricultural needs, encompassing warehouses, solar-powered tube wells, fisheries, new tractors, agricultural balers, seeds, soil, pesticides, and more.
In a bid to promote cutting-edge agricultural technology, including high-efficiency irrigation systems, NBP has forged partnerships with agricultural universities, tractor and implement businesses, and the Punjab and Sindh Agriculture Departments. This collaboration not only facilitates greater access to finance but also empowers farmers to invest in essential resources, thus enhancing their agricultural productivity.