Mobilink Bank introduces climate insurance to protect small farmers

KARACHI: Mobilink Bank, Pakistan’s leading digital microfinance bank, has introduced Climate Shock Insurance to protect small and medium-scale farmers and livestock owners from the escalating risks of climate change.

Under the initiative, the Bank provides financial security by covering losses to crops and livestock resulting from unpredictable climate catastrophes, enabling farmers to maintain their livelihoods amid growing weather volatility.

The insurance product is integrated into the Bank’s existing Agri-Lending and Livestock offerings, streamlining access to coverage and accelerating payout times compared to traditional disaster relief methods. Through this initiative, Mobilink Bank reinforces its commitment to Environmental, Social, and Governance (ESG) principles, promoting resilience and sustainability in the agricultural sector.

Atta-ur-Rehman, Chief Business Officer Mobilink Bank, highlighted the significance of this initiative, stating, “The climate crisis is no longer a distant threat — it is a pressing reality for the borrowers in our crop and livestock portfolio. We strive to provide them with peace of mind, knowing they are financially protected against climate-related disasters, ensuring the survival of their crops and livestock.”

Copyright Business Recorder, 2024