Through the project, farmers will be able to obtain finance for their dairy business with the lowest markup rates from the BOP.
The working capital finance facility from the BOP can be used for updating and expanding dairy infrastructure, buildings, machinery, livestock, or the day-to-day needs of dairy farmers.
The partners said the financing arrangement will empower dairy farmers through better economic outcomes and provide them sufficient cash flow to meet their expenses.
In a joint statement, Zafar Masud (president & CEO the Bank of Punjab) and Imran Husain (finance director FrieslandCampina Engro Pakistan Limited) said, “We are excited to partner on this initiative that has the potential to transform the agricultural landscape of Pakistan by promoting organized financial inclusion of dairy farmers and improving dairy farming practices.
“Prioritizing the financial inclusion and well-being of small farmers is key to developing the agricultural sector, which in turn progresses Pakistan. The BOP will further provide financial assistance under these arrangements through the Federal Government’s Prime Minister Kamyab Jawan Scheme and the Punjab Government’s Rozgar Scheme (PRS), which will further the Government initiative to empower the youth of the country and promote business activities.”