Islamabad, October 16, 2024 – A high-level delegation from the Republic of Belarus met with Mr. Tahir Yaqoob Bhatti, President and CEO of Zarai Taraqiati Bank Limited (ZTBL), at the bank’s Head Office in Islamabad. The delegation included Mr. Sergei Stolyarchuk, Chairman of the Bank of Development of Belarus; Mr. Vadim Shagoiko, Deputy Minister of Agriculture and Food; and Mr. Ilya Kanapliou, Trade Counsellor at the Embassy of Belarus in Pakistan.
During the meeting, the Belarusian delegation provided valuable insights into their agricultural sector, which plays a crucial role in the country’s economy. They emphasized Belarus’ strengths in agricultural mechanization, heavy machinery production, and livestock development, noting that agricultural exports, particularly dairy and meat products, significantly contribute to foreign exchange earnings. Belarus is recognized for its advanced farming techniques and state-of-the-art machinery, including tractors and agricultural equipment.
The delegation proposed a collaboration between ZTBL and Belarus to enhance the mechanization and productivity of Pakistan’s agriculture sector. They expressed a strong interest in investing in various agricultural projects in Pakistan and indicated that a detailed proposal would be forthcoming.
Mr. Bhatti presented an overview of Pakistan’s agriculture sector, highlighting ZTBL’s role in supporting small and subsistence farmers. He shared that ZTBL recently disbursed PKR 33 billion in agricultural loans under the Prime Minister Kissan Package, with over PKR 10 billion allocated specifically for farm mechanization. He stressed ZTBL’s extensive outreach through more than 500 branches, supported by a dedicated team of Mobile Credit Officers and Branch Managers, to provide essential financial and advisory services to farmers.
Both parties acknowledged the importance of further cooperation, especially in introducing Belarusian agricultural machinery to Pakistani farmers. Mr. Bhatti reaffirmed ZTBL’s commitment to exploring joint ventures under the guidance of the Ministry of Finance, the Ministry of National Food Security and Research, and the State Bank of Pakistan to uplift small farmers and invigorate the rural economy.
The meeting concluded with a commitment from both sides to collaborate effectively, leveraging ZTBL’s extensive reach and Belarus’ expertise in agricultural technology, mechanization, and diverse investment projects in Pakistan.
