KARACHI: PMIC has launched the first round of ‘Challenge Fund’ for small farmers to help them get access to finance and other value addition services through Ag-tech/microfinance providers.

The financial and non-financial services offered by applicant should focus on ease in access to credit, trainings and capacity building that help them impart good crop cultivation practices. Technology and good agri practices are to be at the heart of the business models proposed using, but not limited to, trainings of farmers, satellite imagery, soil testing, efficient water, fertilizer and pesticide usage, linkages with input providers and facilitating farmers in crop sales. These interventions would ultimately result in lower input costs, increased crop yield and higher incomes of the farmers.

Ashfaq Chief Executive Officer PMIC added, “I am excited and pleased to announce the launch of ‘Challenge Fund’ by PMIC.

The purpose of ‘Challenge Fund’ is to achieve PMIC’s triple bottom line by offering a competitive environment to participating organizations in Microfinance Plus interventions where both, funds and technical assistance will be provided for all such initiatives.”

Copyright Business Recorder, 2021