ISLAMABAD: Mobilink Microfinance Bank Limited (MMBL) has signed a Memorandum of Understanding (MoU) with Fecto Belarus Tractors Private Limited (FBTL), a pioneer in introducing Russian-based technology tractors in Pakistan since 1962. Under this collaboration, customers will be able to finance FBTL Tractors through MMBL’s range of agri-products.

Ghazanfar Azzam, President and CEO MMBL, and CEO FBTL, Muhammad Raza signed the MoU in Islamabad in presence of senior officials from both organizations. The arrangement will further strengthen MMBL’s agri-products portfolio that caters to the various financial needs of smallholder farmers across the country.

Sharing his thoughts at the MoU signing ceremony, Ghazanfar Azzam, President & CEO MMBL said, “We are excited to expand our range of agri-products offerings by allowing our customers to finance FBTL’s tractors through MMBL. Pakistan’s agriculture sector has a lot of untapped potential. Over the years, MMBL has provided continuous financial facilitation to the country’s farmers and agribusinesses through its wide range of agri-products designed to meet their specific financial needs. Under our collaboration with FBTL, we hope to significantly benefit smallholder farmers by helping them acquire better machines based on superior technology and thereby accelerate the growth of the country’s agricultural sector.”

Also speaking at the ceremony, CEO FBTL Pakistan, Muhammad Raza said, “We are glad to partner up with MMBL to offer FBTL’s flagship tractor Belarus - 510 to their customers.

FBTL has been providing superior quality and high-performance agricultural machinery to enhance agricultural output in Pakistan for decades”.

Copyright Business Recorder, 2021