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SBP launches project to increase agri financing

KARACHI: The State Bank of Pakistan, in collaboration with the provincial governments, has launched Pilot Project Phase II from the current Rabi season 2009-10 for enhancing outreach of agricultural financing in the underserved districts of the country.

Under the Phase II of the project, 14 districts of Punjab, Jhang, Kasur, Toba Tek Singh, Pakpattan, Khanewal, Bahawalpur, Vehari, Sialkot, Faisalabad, Sahiwal, Gujranwala, Sargodha, Okara and Sheikhupura, nine districts of Sindh, Hyderabad, Mirpur Khas, Tando Allahyar, Sanghar, Nawabshah, Khairpur, Larkana, Noushehro Feroz and Matiari, three districts of North West Frontier Province Mardan, Swabi and Mansehra and two districts in Balochistan, Jafarabad and Nasirabad have been identified based on the experience of phase I of the project and in consultation with banks. It will help increase the flow of institutional credit on fast-track basis to the underserved agri-intensive areas of Punjab, Sindh NWFP and Balochistan. To increase awareness about the project, the State Bank is also arranging several workshops for various stakeholders including regional business chiefs and regional agri managers of participating banks, officials of revenue departments, post offices and agri extension departments and SBP-BSC offices to discuss the modalities on the implementation of the project, One Window Operation, data reporting, monitoring, etc. staff report

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