KARACHI – HBL sets the industry benchmark with Rs 1 billion in financing for solar tube wells. The facility enables farmers to adopt these capital-intensive technologies affordably and cost-effectively.
Farmers are facilitated with easy and quick access to credit through the Bank’s vast rural footprint. The milestone fosters HBL’s commitment towards sustainable and climate-smart agriculture in line with Aga Khan Development Network’s (AKDN) Net Zero Goal of 2030.
HBL as a signatory of Principles of Responsible Banking (PRB) and Net Zero Banking Alliance (NZBA), is striving to promote renewable energy sources in the agricultural ecosystem and minimize carbon emissions by limiting the use of fossil fuels. Solarization of tube wells is the cost-effective solution that ensures a timely supply of irrigation water in the right quantity. These technologies considerably reduce the cost of production and improve farm productivity resulting in higher profit margins.