SBP launches Agriculture Finance Literacy Program
The SBP Banking Services Corporation (SBP BSC) has initiated
the Agriculture Finance Literacy Program (AFLP) by conducting a series of five
nationwide workshops.
This flagship initiative, endorsed by the Agricultural Credit Advisory Committee, aims to raise awareness within the farming community about available financial schemes and government-led initiatives.
AFLP represents a pioneering effort that brings together key stakeholders, including SBP, commercial banks, federal, and provincial government departments, to engage with farmers collectively.
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The program addresses crucial aspects of agricultural finance, with a primary focus on reaching out to New to Bank Farmers (NTBFs) to expand the pool of borrowers and promote financial inclusion. It also places dedicated emphasis on reducing gender and regional disparities in agricultural finance, ensuring equitable access to financial resources for farmers across the nation.
Over the next five years, AFLP aims to integrate 500,000 farmers engaged in the crop sector, livestock, poultry, and fisheries into the financial ecosystem. This program is expected to significantly contribute to Pakistan's agricultural growth and sustainability by effectively addressing their primary constraint, which is financing requirements.
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In conjunction with the program's 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 workshops had two key objectives: to sensitize bank officials who will carry forward the literacy program at the grassroots level and to enlist the support of provincial departments with extensive networks across the country for this campaign.
These workshops witnessed active participation from focal persons representing commercial banks and representatives from Provincial Agriculture Extension departments, Livestock Departments, and Fisheries Departments in these regions.
This collaborative effort, uniting SBP, SBP BSC, and various stakeholders, underscores the collective commitment to empower the farming community, promote financial inclusion, and drive agricultural growth across Pakistan.
Source: Pakistan Observer