Belarus delegation visits ZTBL, shows interest in multiple projects

ISLAMABAD: A high-level delegation from the Republic of Belarus called on the President/CEO of Zarai Taraqiati Bank Limited (ZTBL) at ZTBL, Head Office Wednesday, expressing keen interest to invest in multiple projects in Pakistan.

The meeting was held during Shanghai Cooperation Organization (SCO) summit 2024 in Islamabad, where delegations from various member and observer countries have gathered.

Belarus delegation included Sergei Stolyarchuk, Chairman of the Bank of Development of Belarus, Vadim Shagoiko, Deputy Minister of Agriculture and Food of Belarus and Ilya Kanapliou, Trade Counsellor of the Embassy of Belarus in Pakistan. The President/CEO of ZTBL, Tahir Yaqoob Bhatti, warmly welcomed and received the distinguished Belarusian delegation.

During the meeting, the Belarusian delegation provided detailed insights into Belarus’ agriculture sector, which plays a pivotal role in the country’s economy. Agriculture and livestock exports are major contributors to Belarus’ foreign exchange earnings. They highlighted Belarus’ strength in agricultural mechanization, heavy machinery production, and livestock development. Their agricultural exports, including dairy and meat products, contribute to their global trade footprint, and Belarus is recognized for its advanced farming practices and cutting-edge machinery such as tractors and agricultural equipment.

The Belarusian side proposed a potential collaboration between ZTBL and Belarus in areas of mutual interest. They suggested that ZTBL’s farmers benefit from Belarusian agricultural machinery to promote mechanization and productivity in Pakistan’s agriculture sector.

The President/CEO of ZTBL delivered a presentation on Pakistan’s agriculture sector and the pivotal role ZTBL plays in supporting small and subsistence farmers. He shared ZTBL’s recent disbursement of Rs 33 billion agri loans to small & subsistence farmers under the Prime Minister Kissan Package with over Rs10 billion financed for farm mechanization. The President/CEO ZTBL highlighted the strategic position of ZTBL in terms of country wide outreach in underserved & rural areas through more than 500 branches backed by dedicated team of Mobile Credit Officers and Branch Managers to extend financial and Advisory services to farmers at their doorsteps. He emphasized that partnerships & collaborations amongst countries are crucial for mutual benefits and well-being of people.

Both sides emphasized the importance of further cooperation, particularly in introducing Belarusian agricultural machinery to Pakistani farmers. The president/CEO reaffirmed ZTBL’s eagerness to explore joint ventures under the guidance of the Ministry of Finance, Ministry of National Food Security & Research and the State Bank of Pakistan to uplift small farmers and drive the rural economy forward.

The meeting concluded with a commitment from both sides to continue working together, leveraging ZTBL’s reach and Belarus’ expertise in agricultural technology, mechanization and investment in varied nature of projects in Pakistan.

Copyright Business Recorder, 2024