Bank Alfalah, Engro ink agreement

News Desk

KARACHI: Bank Alfalah and Engro Fertilizers signed an agreement as part of the Agri Value Chain Financing Program for the current Kharif season, a statement said on Tuesday.

The seasonal facility will be available for the growers registered with Engro Fertilizers in the project “Rahbar” and will benefit the farmers of selected districts of Sindh and Punjab, it added.

Nauman Ansari, president and CEO of Bank Alfalah, and Ruhail Mohammed, CEO of Engro Fertilizers Ltd, signed the strategic partnership. The project will provide farmers with an end-to-end solution to mostly belonging to subsistence and economic levels holding, the statement said.

The unique business model will allow for farm advisory, timely supply of quality inputs, crop monitoring, farm support, market linkages and access to affordable formal finance. The programme includes branchless banking services and clean lending facilities.