From 23 to 28 November, staff from State Bank of Pakistan and representatives from 11 Pakistani banks visited Thailand, to learn from the country’s experience in developing the ecosystem for climate-smart agriculture (CSA) financing.  

The study visit, organised by AFI and the Asia-Pacific Rural and Agricultural Credit Association, explored the market landscape for CSA, climate risk management in agriculture finance, initiatives to expand CSA financing, the role of credit unions and microcredit in supporting farmers’ climate resilience, and reporting and monitoring frameworks. 

In addition to technical presentations from the Office of Agricultural Economics, Thai Banker’s Association, and Bank for Agriculture and Agricultural Cooperatives, there were visits to Thailand’s largest wholesale market and to a fig plantation, to observe CSA practices in a real-world setting. 

“The State Bank of Pakistan, with support from AFI’s In-Country Implementation facility, is currently reviewing its agricultural financing regulations, with the aim of boosting climate-smart agricultural financing which takes smallholder farmers’ needs into account,” said Jeanette Moling, AFI Policy Specialist, Inclusive Green Finance. “As Thailand is one of the very few developing countries with an advanced ecosystem and integrated practices on climate smart agriculture and agri-financing, it was the perfect venue for the study visit.”