Business
SBP launches Agriculture Finance Literacy Programme
The AFLP stands out as a trailblazing initiative because it brings together all key parties to engage with farmers, including SBP, commercial banks, federal and provincial government ministries.
Karachi: The State Bank of Pakistan (SPB) Banking Services Corporation (BSC) has launched the Agriculture Finance Literacy Programme (AFLP) through a series of five workshops conducted nationwide on Monday.
This flagship program, as suggested by the Agricultural Credit Advisory Committee, aims to inform farmers about the financial options and government-sponsored programs that are available.
The AFLP stands out as a trailblazing initiative because it brings together all key parties to engage with farmers, including SBP, commercial banks, federal and provincial government ministries.
In order to increase the pool of potential borrowers and advance financial inclusion, it focuses on reaching out to New to Bank Farmers (NTBFs), one of the most important aspects of agricultural finance.
Moreover, by ensuring that farmers across the country have equitable access to financial resources, it also lays a strong emphasis on addressing regional and gender inequities in agricultural financing.
The AFLP hopes to include 500,000 farmers in the livestock, poultry, fishery, and agriculture sectors in the financial ecosystem during the next five years. By successfully tackling Pakistan's main financial restriction, this program will considerably aid in the expansion and sustainability of its agricultural sector.
In conjunction with the program launch, the Financial Inclusion Support Department of SBP BSC has conducted a series of five workshops in major cities, including Karachi, Quetta, Lahore, Rawalpindi, and Peshawar.
The main goals of the workshops were to inform bank employees, who will advance the literacy program at the grass-roots level, and to enlist the support of provincial ministries, who have an extensive network across the nation that can be used for this campaign.
Participants from the provincial agriculture extension departments, livestock departments, and fisheries agencies of various regions, as well as focal persons representing commercial banks, actively participated in these workshops.
This cooperative project, which brings together SBP, SBP BSC, and different stakeholders, highlights our shared commitment to empowering the farming community, expanding financial inclusion, and accelerating agricultural growth across Pakistan.