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Karachi, National Bank of Pakistan (NBP) is actively expanding its agricultural loan program to specifically support women in the agriculture sector. The bank’s initiative aims to address the challenges faced by women entrepreneurs by offering incentivized loan packages designed to eliminate financial barriers and foster increased participation.
According to National Bank of Pakistan, the enhanced focus includes concessional markup rates, lenient terms based on minimum source income, and prioritized loan processing, enabling women to quickly obtain financial support for long-term agricultural investments.
The bank’s agricultural loan program benefits all farmers with a competitive markup rate of 7%. Loans under this program can be utilized for various agricultural purposes such as purchasing new tractors, agricultural balers, and investing in solar-powered tube wells, fisheries, as well as buying seeds, soil, and pesticides. NBP has also established partnerships with Agricultural Universities, Tractors and Implements Businesses, and the Agriculture Departments of Punjab and Sindh. These collaborations are set to promote advanced agricultural technologies like high-efficiency irrigation systems, further aiding farmers not only in accessing finances but also in enhancing their agricultural output through essential investments.
The National Bank maintains a firm commitment to advancing Pakistan’s agricultural sector by alleviating financial challenges and empowering women, striving to contribute to a sustainable and productive agricultural future for the country.
The post National Bank of Pakistan Boosts Agricultural Loans, Focuses on Women Empowerment in Agriculture appeared first on Pakistan Business News.