Aurangzeb Champions Agri-Finance and Climate Resilience Reforms at World Bank Forum

ISLAMABAD, Oct 14 (APP) – Aurangzeb highlights agri-finance, climate resilience reforms at the World Bank’s “AgriConnect: Farms, Firms, and Finance for Jobs” forum in Washington, underscoring Pakistan’s bold efforts to modernize agriculture, empower small farmers, and build climate resilience.

Pakistan Showcases Bold Agriculture Transformation Agenda

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, delivered an inspiring address during a World Bank Group session titled “AgriConnect: Farms, Firms, and Finance for Jobs”. The high-profile event brought together World Bank President Ajay Banga, Ukraine’s Finance Minister Sergii Marchenko, and Guinea’s Agriculture Minister Mariama Cire Sylla to explore global agricultural solutions.

Aurangzeb stated that agriculture remains Pakistan’s economic backbone, contributing nearly one-fourth of national GDP and employing millions of small farmers managing less than five hectares of land.

“Our policy direction is shifting from control to facilitation — empowering the private sector to take the lead where it performs best,” said Aurangzeb.

This strategic vision emphasizes enabling farmers, reforming financial systems, and promoting sustainable practices to transform the country’s agri-economy.

Empowering Farmers Through Finance and Technology

The minister explained Pakistan’s ongoing efforts to enhance productivity, improve access to finance, and strengthen agricultural value chains from farm to export.

Pilot projects providing high-quality seeds, fertilizers, and satellite-based crop monitoring have shown remarkable results — increasing yields, raising incomes, and minimizing farmers’ dependency on informal credit networks.

To scale such progress, Aurangzeb announced innovative financial reforms, including:

• First-loss guarantees for banks expanding agri-lending
• Subsidized financing schemes for smallholders
• Uncollateralized credit for tenant farmers

These measures aim to establish a sustainable ecosystem that supports inclusive rural growth and financial empowerment.

Climate Resilience: A Core Pillar of Economic Reform

Highlighting the deep interconnection between agriculture and climate, Aurangzeb called climate adaptation an urgent national priority.

He pointed to the devastating 2022 floods that destroyed rice crops as a stark reminder of Pakistan’s vulnerability. The minister noted that under Pakistan’s 10-year Country Partnership Framework with the World Bank, one-third of the agenda focuses on climate resilience and decarbonization.

“Financing is available — what we need now is accelerated deployment to counter unpredictable weather patterns and frequent climate shocks,” he emphasized.

These proactive reforms underscore Pakistan’s determination to build resilience, reduce emissions, and secure sustainable food systems for future generations.

For background on Pakistan’s climate resilience initiatives, visit World Bank Pakistan Climate Partnership (external link, DoFollow).

Boosting Research and Technology Collaboration with China

The finance minister also underscored the role of research, innovation, and international collaboration in modernizing Pakistan’s agriculture. Currently, around 1,000 Pakistani students are studying advanced agricultural sciences and technology in China, strengthening bilateral cooperation under the China-Pakistan Economic Corridor (CPEC) framework.

These students are gaining expertise in:

• Precision farming
• Crop diversification
• Sustainable water management
• Smart mechanization techniques

Such initiatives are expected to enhance Pakistan’s agricultural productivity and competitiveness in global markets.

Private Sector Leadership and Export Potential

In response to questions on private sector engagement, Aurangzeb reaffirmed Pakistan’s commitment to deregulation and investment-friendly reforms. He urged private enterprises to explore opportunities in cold chain logistics, warehousing, and value-added processing — vital areas for reducing post-harvest losses and boosting export revenues.

Pakistan’s rice exports, he said, are projected to reach $3.5 billion this year, reflecting the sector’s resilience and potential. He emphasized that when the entire value chain is considered, agriculture contributes close to 40% of Pakistan’s GDP, making it a crucial driver for inclusive growth and job creation.

For related coverage on Pakistan’s export reforms, see Pakistan Economic Outlook on Agriculture

Aurangzeb’s Broader Economic Vision at IMF-World Bank Meetings

Earlier in Washington, Senator Aurangzeb also participated in the G-24 Ministers & Governors’ Meeting, highlighting Pakistan’s macroeconomic stability achieved through structural reforms in:

• Taxation and revenue systems
• Energy sector management
• State-Owned Enterprise (SOE) reform and privatization

He praised the World Bank’s support in launching bold tariff reforms, aimed at increasing competitiveness and fostering export-led growth. Aurangzeb also recognized the IMF’s appreciation for Pakistan’s continued progress on its reform agenda, focusing on technology-driven governance and fiscal discipline.

The minister reiterated that regional trade corridors, cross-border cooperation, and global climate partnerships remain central to Pakistan’s future growth strategy.

Conclusion: Building a Resilient Future for Pakistan’s Agriculture

By highlighting agri-finance and climate resilience reforms, Aurangzeb presented a compelling case for sustainable agricultural transformation. Pakistan’s strategy — combining financial innovation, climate adaptation, and technological advancement — reflects a forward-looking approach to tackling rural poverty and food insecurity.

The government’s vision to empower farmers, mobilize private capital, and build climate-smart infrastructure promises a resilient, self-reliant agricultural economy that can thrive amid global challenges.

“Our goal,” concluded Aurangzeb, “is a technology-driven, inclusive, and sustainable agriculture sector that uplifts farmers, drives exports, and safeguards Pakistan’s future.”