LAHORE – Engro Fertilisers, a major fertiliser company in Pakistan, and Bank Alfalah Limited, Pakistan’s leading commercial bank, announced a strategic partnership aimed at empowering farmers through enhanced lending facilities.
This collaboration will extend financing of up to Rs1 million to farmers registered through Engro Markaz outlets and UgAi – the first integrated agricultural e-commerce platform for Pakistan.
The signing ceremony took place at Bank Alfalah’s Head Office in Karachi and was attended by senior leadership from both organisations, including Ali Rathore, CEO of Engro Fertilisers; Atif Bajwa, President and CEO of Bank Alfalah Limited; and Atif Mohammad Ali, Vice President of Marketing at Engro Fertilisers.
The pilot initiative will be launched with a total funding allocation of Rs250 million (comprising both secured and unsecured components), offering average loan amounts of approximately Rs0.6 million to 300–350 farmers. Currently, the program will be accessible through four Engro Markaz locations across Pakistan: Sahiwal, Sargodha, Bahawalpur, and Muridke.
The project is designed to enhance financial access for farmers, providing them with clean and collateral-based lending solutions tailored to their needs. These credit facilities offer subsidised interest rates up to 4.5% lower than the market rates, enabling farmers to purchase high-quality Engro fertiliser products, directly contributing to improved crop yields and a significant increase in their overall income and livelihood. The collaboration also features for digitisation of payments and implementation of a closed-loop spending solution via P2M (Person-to-Merchant) transaction enablement.
According to the Pakistan Economic Survey 2023–24, credit facilitation played a major role in driving improved crop yields during FY2024, leading to a significant impact of agricultural financing on national food security and rural productivity. According to the World Bank, access to agricultural finance can make farming up to four times more effective in reducing poverty, highlighting the transformative impact of inclusive credit systems on rural livelihoods.
Ali Rathore, CEO of Engro Fertilisers, stated, “This collaboration with Bank Alfalah is a meaningful step toward improving farmers’ access to financial resources, enabling them to invest in quality inputs, enhance productivity, and work toward a more secure future. We hope this initiative contributes to the broader goal of promoting sustainable agriculture and strengthening the resilience of farming communities”.
Atif Bajwa, President and CEO of Bank Alfalah Limited, added, “We recognise the potential of Pakistan’s agricultural sector and the critical role that accessible financing plays in unlocking it. By offering tailored lending solutions, we are investing in the productivity, resilience, and financial empowerment of our farmers, contributing directly to food security and economic stability across the nation.”
