MoU signed to promote agricultural credit

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KARACHI: A Memorandum of Understanding (MOU) has been reached between United Bank Limited (UBL) and Fecto Belarus to promote agricultural mechanization and help farmers get hassle-free loans under Prime Minister Kamyab Jawan-Youth Entrepreneurship Scheme (PMKJ-YES), a statement said Wednesday.

The arrangement between the two entities aims to help farmers benefit from the loan facilities under the PMKJ-YES program and obtain prompt delivery of Belarusian tractors. The MoU signing ceremony was held at UBL Head Office, where UBL President and CEO Shazad G. Dada and Fecto Belarus CEO Muhammad Raza Fecto signed the document on behalf of their respective organizations. The ceremony was attended by senior executives from both organizations.

The CEOs of the two organizations have expressed their interest in further contributing to the development of the agricultural sector and exploring avenues to further deepen the business relationship between the two organizations.

Shazad G. Dada said the bank has carried on the legacy of providing comprehensive banking solutions to rural customers in general and the farming community in particular, with particular emphasis on basic agricultural mechanization.

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