WB approves $200 mn to increase agricultural resilience

ISLAMABAD: The World Bank has approved $200 million in financing to increase Pakistan's agricultural resilience and support Punjab in transforming the agricultural sector.

"The agricultural sector in Punjab is central to Pakistan's economy and food security as it accounts for 73 percent of the country's total food production," the lender said in a statement.

The financing is being made under the "Punjab Resilient and Inclusive Agriculture Transformation Project," which will support farmers in implementing innovative, climate-smart technologies to help the Punjab government achieve economies of scale to transform the agricultural sector, the statement said.

The project will engage the private sector in sourcing appropriate technologies and providing training tailored for water user associations and individual households to improve water conservation practices and agriculture productivity, it said.

The World Bank also highlighted that the project will benefit about 190,000 small, family-owned farms and 1.4 million acres of irrigated land in rural communities in the province, adding that it will also provide training to small- and medium-sized farm owners on water conservation and more sustainable, climate-resilient agricultural practices, including for women.