Engro Foods Limited, the 2nd largest dairy company in Pakistan, has collaborated with JS Bank under the banner of Prime Minister Youth Business Loan (PMYBL) program to empower the dairy farmers with financing facilities.
It is an initiative to build sustainable livelihoods for the dairy farmers through monetary support and knowledge transfer.
Engro dairy farmers participating in this program will be able to access up to PKR 2 Million in ready funds for up to 8 years, at a minimum markup rate of just 6% per annum. They will have the opportunity to upgrade their farms, procure machinery or livestock with financing through JS Bank.
ALSO READ
Agreements Signed for Two Thar Coal-Based Power Plants
Ali Ahmed Khan, managing director of Engro Foods Limited, said:
Engro Foods remains committed to empower the dairy farmers at the grass roots level. PMYBL Scheme is a great effort to increase sustainability of the dairy farmers who have zero access to financing solutions. Through this partnership with JS Bank, we look forward to increase the livelihoods and build the capacity of dairy farmers.
At Engro Foods, we believe that it is our responsibility and we remain committed to enable the evolution of the dairy industry in Pakistan.
JS Bank Group Head Corporate and Retail Banking Group Kamran Jafar said,
This agreement will serve as a development catalyst and increase financial inclusion nationwide. It will increase financial inclusion nationwide. Through the Prime Minister Youth Business Loan (PMYBL) program, JS Bank is providing easy and accessible avenues for financial independence and growth to deserving farmers.
Through this alliance, Engro Foods Limited and JS Bank will provide an ecosystem of mutually supporting values and growth to farmers
