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News | invest.pk

SBP to provide unlimited loans for agri warehousing projects

February 23, 2022

The State Bank of Pakistan (SBP) is ready to provide unlimited loans for warehouse infrastructure projects in rural areas, central bank governor Dr Reza Baqir said on Tuesday. Speaking at the Launch & Roadshow of Electronic Warehouse Receipt Financing (EWRF) for Maize Crop at Kasur’s district’s Chunian tehsil, the SBP governor said the commercial banks to provide loans for warehouse infrastructure development projects at six per cent markup. The aim is to support and enhance the scope of agri-financing via EWRF for farmers across the country, he added. Dr Baqir said the central bank’s top priority is to help growers increase their per-acre yields, build and upgrade their social status. “The agriculture sector in Pakistan contributes 40-50pc in our economy (directly and indirectly). Among all growers, 90pc are the small ones out of which only 40pc become able to avail the credit facility.