Contract signing ceremony for Challenge Fund – Round 1

Contract signing ceremony for Challenge Fund

Pakistan Microfinance Investment Company (PMIC) and GROWTECH Services Ltd. have signed the agreement for the Technical Assistance Grant under PMIC’s Challenge Fund launched in January 2022. GrowTech Services Ltd. was selected through a competitive and transparent. Under the first round of Challenge Fund the thematic area “Accelerating access to finance and increasing income of small farmers” would help 1,000 small farmers receive crop-related information through extension services. Satellite imagery, soil testing, efficient water, fertilizer, and pesticide usage, linkages with input providers and facilitating farmers in crop sales as well as provision of financial services are part of the package offered by GrowTech to farmers on a sustainable basis. These interventions would ultimately result in lower input costs, increased crop yield, positive environmental impact, and higher incomes for the farmers.