Bank Alfalah, a prominent commercial bank in Pakistan, and SAWiE, a digital platform that provides smart farm advisory services to smallholder farmers. Both have signed a Memorandum of Understanding to promote climate-smart agriculture practises in Pakistan. Under this agreement, SAWiE will use its systems to merge geospatial data with machine learning and AI applications to provide farmers with long-term solutions. According to the agreement, the two groups will provide farmers with climate farm advisory services. Connect them to external markets, and support green banking to achieve net zero and access to funding.
This initiative seeks to empower farmers by increasing their capacity and competitiveness through a variety of activities. Including the creation of a concept of climate-smart villages. The promotion of climate-smart agriculture technologies. The development of innovative approaches to serving farmers through regular advisory services and training. Furthermore, Bank Alfalah and SAWiE will encourage soAil testing among existing and new farmers in order to create soil health solutions that will help save water, enhance plant health, and protect the natural environment. The initiative will support sustainable agriculture practises by promoting ESG principles, which can help guarantee the sector’s long-term viability.
This is an important move towards promoting sustainable agriculture in Pakistan. This initiative seeks to empower farmers and improve their capacity and competitiveness while promoting ESG principles and climate-smart agriculture practises by providing climate farm advisory services, connecting farmers with external markets, and promoting green banking. Agriculture provides 22.7% of GDP and employs approximately 37.4% of the labour force, according to the Pakistan Economic Survey. However, Pakistan’s agricultural sector is experiencing a number of challenges, including climate change. Which is having a negative impact on the country’s farming, Agri-food systems, and supply chains.
UNDP study, Pakistan is vulnerable to climate change.
According to a UNDP study, Pakistan is one of the countries most vulnerable to climate change, with rising temperatures, water scarcity, and extreme weather events affecting agricultural output. According to the study, climate-smart agriculture practises can help reduce the risks of climate change. While also improving agricultural productivity and sustainability.
The signing ceremony was held in Lahore in the presence of top officials from SAWiE and Bank Alfalah, including Engr. Mushtaq A. Gill (Tamgha-e-Imtiaz), CEO of SAWiE, and Dr. Khalid Mahmood, SAWiE’s representative. Meanwhile, Shaykh Zeeshan Rauf, Head of Small Medium Enterprise (SME) and Commercial Banking Division at Bank Alfalah, Raza ul Aleem, Head SME and Agri, Bank Alfalah, and Yahya Hameed Wahla, Agri-Business Head, were present.