Tameer Bank To Spend Rs. 2 Billion Interest-free Loans to Farmers via M-Wallet

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Scaling up its m-agriculture along with the digital & financial inclusion initiatives, Pakistani microfinance Bank Tameer, has now joined hands with the government of Punjab for giving out smart digital loans to the farmers across Punjab worth in aggregate over Rs2 billion for over 35,000 farmers.

The total scheme announced by the government of Punjab is actually over Rs 77 billion for 450,000 farmers.  This partnership will go on to strengthen the collective efforts put in order to boost Pakistan’s standing as the major agricultural country by increasing its overall yield and productivity of the crops.

Tameer Microfinance Bank has been appointed partner Banks for the programme that will be providing digital loans, digital expenses and repayment to farmers across Punjab.

This scheme will not only provide interest-free loans but will also discourse long-existent issues faced by local farmers through smart phone-based crop and weather advisory and comprehensive consultancy services besides maintaining a digital platform to empower the farmers by keeping a real-time monitoring and performance evaluation.

To help farmers benefit from the host of digital services, the government of Punjab will distribute smart phones under this scheme to allow farmers access to the E-credit scheme (Digital Wallet), weather Alerts, Crop Calendar, E-Zarri Baithak, Agri TV and more.

Remarking about the development, President & CEO Tameer Bank Ali Riaz Chaudhry said:

We are bringing in Telenor Pakistan, Tameer Bank and Easypaisa’s technological infrastructure to support and accelerate the government of Punjab’s interest-free loans scheme for small farmers.

We are positive that through calculated and focused implementation, monitoring and support, we will be able to help the farmers increase their yield many folds and contribute additionally to the socio-economic progress of the country.

The Punjab government’s interest-free loan scheme is being led by Ministry of Agriculture & Finance in support from State Bank of Pakistan, Punjab Institute of Technology Board, Ministry of Finance.

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