NBP & SIAPEP signed LoI to promote high-efficiency irrigation systems

A Letter of Intent (LOI) has been signed between the National Bank of Pakistan (NBP) and Sindh Irrigated Agriculture Productivity Enhancement Project (SIAPEP), Govt. of Sindh at Karachi for collaboration to promote High-Efficiency Irrigation Systems (HEIS) for efficient use of water and crop productivity.

The SIAPEP is providing financial assistance to eligible farmers at the rate of 60% of the total cost of the installation of HEIS. In contrast, the farmer will contribute the remaining 40% cost for HEIS. Such farmers, at times, face difficulty in mobilizing their due share upfront. In this regard, NBP and SIAPEP have agreed to provide financing facilities to eligible and needy farmers to install HEIS.

NBP and SIAPEP will also focus on capacity building of farmers through the adoption of agriculture best practices for increasing water use efficiency and crop productivity, improving the farmers’ financial literacy, ensuring the financial inclusion of farmers and enabling them to adopt modern technologies for increasing productivity and profitability.


Posted in Banking & Insurance News.

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