ISLAMABAD – In a landmark development for Pakistan’s agri-lending sector, HBL Microfinance Bank (HBL MfB) and the Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) have signed a memorandum of understanding (MoU) to introduce satellite-based agricultural analytics into the lending ecosystem.
This is the first-ever partnership between a bank and SUPARCO for such a cutting-edge solution. The collaboration marks a significant milestone in leveraging space technology for climate-smart agriculture financing. Under this initiative, the two organisations will jointly execute a pilot project in Okara District, one of Punjab’s key agricultural zones. The pilot will involve remote pre-loan assessments using high-resolution satellite imagery, crop health analytics, yield estimation, risk profiling, and a scoring engine to assess farm-level creditworthiness. A secure API and dashboard interface will enable HBL MfB to integrate this data into its loan decision-making processes, eliminating the need for manual field verification.
Sharing his thoughts on the occasion, Amir Khan, President & CEO, HBL MfB, said, “We at HBL Microfinance Bank are excited to be the first microfinance bank in Pakistan to collaborate with SUPARCO for Climate-Smart Agri Financing, under which satellite-powered analytics will be integrated into agricultural lending. As a leading microfinance bank, HBL MfB is well-suited to drive such innovations that benefit both our clients, and the microfinance sector. This partnership aligns with our vision of improving the quality of life of our customers through innovative financial solutions, and we are thankful to SUPARCO for partnering with us. Together, we are sowing the seeds of a smarter, data-backed future for Pakistan’s agriculture sector.”
Zafar Iqbal, Member (SAR), SUPARCO, remarked, “SUPARCO proudly remains at the forefront of applying satellite technology for national development. This collaboration with HBL Microfinance Bank is a proud moment for us as we bring our Agricultural Geographic Information System into the financial sector for the very first time. We are confident that our analytics and insights will not only strengthen lending processes but also contribute meaningfully to agricultural productivity and rural uplift.” The next phase of the partnership includes post-loan satellite monitoring, enabling the Bank to track crop activity and raise early alerts in case of anomalies, ushering in a new era of risk management and lending transparency. The partnership is set to redefine how microfinance institutions approach agriculture lending in Pakistan, positioning HBL MfB and SUPARCO as the leaders in the emerging domain of agri-lending enabled by space technology.
