NBP, Winrock signs MoU for credit availability to farmers

KARACHI: A Memorandum of Understanding (MoU) has been signed between National Bank of Pakistan (NBP) and US based Winrock International Institute for Agricultural Development (Winrock) for collaboration between the two organizations to look at increasing ways and means of credit availability to farmers, processors and service providers and enhancing financial literacy in selected areas and crops.

Initial focus will be on four non-major crops namely dates, banana, tomato and red chili. Winrock is being represented via its Pakistan office through the Pakistan Agriculture Development Project (PAD) and is undertaking tasks on value chain development in the four crops in 12 districts (6 each in Sindh and Punjab).

Winrock International is a recognized leader in US and international development, providing solutions to some of the world’s most complex social, agricultural and environmental challenges. It is a non-profit organization that implements a portfolio of more than 140 agriculture, environment and social development projects in over 46 countries.

The Bank is taking initiatives for increasing market penetration and growth in the priority sectors of the economy by developing and strengthening value chains between producers, processors, exporters and financial institutions. The Inclusive Development Group (IDG) within NBP is spearheading these initiatives and is engaged in focusing on financial inclusion of underserved sectors that have significant business potential.****