Karachi, April 16, 2021: A Memorandum of Understanding (MOU) has been signed virtually between National Bank of Pakistan (NBP) and University of Agriculture, Faisalabad (UAF) for collaboration between the two organizations to promote agriculture entrepreneurship and capacity building. The objectives of this MOU include:
- Establish working relationship between both organizations to benefit agriculture focused entrepreneurs
- Collaborate in development and launch of credit products
- UAF will connect prospective start-ups and entrepreneurs with NBP
- Capacity building for UAF students and NBP officials
The UAF is a premier institution of higher education, research and advocacy in agricultural and human sciences in Pakistan. It is a top ranked University of Pakistan with international recognition through QS, TIMES, UI Green Metric World Universities, Webometrices and many more Ranking Systems. UAF’s mission is to lead the change through outstanding achievements in learning, discovery and community service with clear focus on programs of significance to agricultural and rural development.
NBP and UAF will cooperate to identify and carry out joint marketing activities for awareness of farming community. Such activities may include NBP participation in seminars, exhibitions and farmers programs for awareness of Bank’s financing products.
NBP is Pakistan’s largest public sector commercial bank, providing a diverse range of products and services to the agriculture sector. The Bank is taking initiatives for increasing market penetration and growth in the priority sectors of the economy by developing and strengthening value chains between producers, processors, exporters and financial institutions. The Inclusive Development Group (IDG) within NBP is leading these initiatives and is engaged in focusing on financial inclusion of underserved sectors that have significant business potential.
The expected outcome of the collaboration between NBP and UAF is to contribute towards the growth of agriculture in Pakistan.