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 partnership between a bank and SUPARCO for such a solution, marking 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 process, reducing the need for manual field verification.
HBL MfB President & CEO Amir Khan said, “We 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. This partnership aligns with our vision of improving the quality of life of our customers through innovative financial solutions.”
Zafar Iqbal, Member (SAR) at SUPARCO, stated, “SUPARCO proudly remains at the forefront of applying satellite technology for national development. This collaboration brings our Agricultural Geographic Information System into the financial sector for the first time.”
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. The initiative is set to redefine how microfinance institutions approach agricultural lending in Pakistan.