IFC, Standard Chartered Pakistan and Engro Fertilizers Announce 'First of its Kind' PKR 33.6 Billion Financing to Strengthen Pakistan’s Agri Chain and Support Farmers

Karachi, Pakistan, December 23, 2025 - IFC announced its first PKR denominated investment via an unfunded Partial Credit Guarantee of up to PKR 33.6 billion (approximately US$120 million equivalent) to support a long-term PKR-denominated financing from Standard Chartered Bank Pakistan Limited to Engro Fertilizers Limited (Engro Fertilizers). This financing will enable Engro Fertilizers to strengthen the agri-value chain in Pakistan by mobilizing local capital. The investment-aimed at strengthening Pakistan's agriculture sector and bolstering food security-also benefits from a first loss counter guarantee from the IFC-Canada Facility for Resilient Food Systems.

This engagement marks IFC's first local currency investment in Pakistan, thus expanding access to long-term financing solutions in both local and foreign currency, critical for economic growth particularly in important sectors such as agriculture and micro, small, and medium enterprises. By leveraging PKR-denominated financing, Engro Fertilizers, one of Pakistan's leading fertilizer producers, is championing the use of domestic capital to enhance operational resilience. The financing will help Engro Fertilizers make capital investments in maintenance of facilities and turnarounds, enabling uninterrupted supply of urea and other fertilizers to meet national demand. The funding will also support farmer programs, ensuring continuity of initiatives that complement Engro's core mission of reliable production.

The agriculture sector is contributing 24 percent of Pakistan's GDP, 70 percent of its exports, and 40 percent of its employment, making it vital for long-term growth. Yet systemic challenges-inefficient supply chains, underfunded farmer programs, low literacy, and rising input costs persist. This investment will help address some of these gaps.

"Engro has always strived to solve Pakistan's most pressing issues meaningfully. Using local capital to strengthen local value chains reflects our commitment to the country and to our farmers - the backbone of Pakistan's economy - through reliable fertilizer production. We are grateful to our partners, IFC and Standard Chartered Bank, for enabling us to advance this mission," said Engro Fertilizers CEO, Ali Rathore.

"This investment reflects the strength of our partnership with Engro Fertilizers and Standard Chartered Bank and our shared commitment to provide innovative solutions to address challenges in a sustainable manner. Through this project, we are opening new pathways for local currency long-term financing that support growth and financial resilience to manage country risk in a sector vital to the country's economy," said Ashruf Megahed, Regional Industry Head, Manufacturing, Agribusiness & Services, Middle East and Central Asia at IFC.

Commenting on the occasion, Rehan Shaikh, CEO & Head of Coverage, Standard Chartered Pakistan stated, "At Standard Chartered we are committed to financing solutions that enable sustainable growth and long-term resilience across Pakistan's economy. This partnership with IFC and Engro Fertilizers reflects our shared vision of strengthening food security and supporting one of the country's most critical value chains. Standard Chartered is keen to continue working with IFC to replicate this successful structure across its network."

About Engro Fertilizers

Engro Fertilizers Limited is one of Pakistan's leading fertilizer manufacturers and marketers. The company offers a diverse portfolio of products including Urea, Zabardast Urea, DAP, and other specialty fertilizers to support sustainable agriculture. It is a subsidiary of Engro Corporation, one of Pakistan's leading conglomerates and is publicly listed on the Pakistan Stock Exchange (PSX) under the symbol EFERT.

Learn more at https://www.engrofertilizers.com and https://www.engrocorporation.com

About Standard Chartered

We are a leading international banking group, with a presence in 53 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn, Instagram and Facebook.

About Standard Chartered Pakistan

Standard Chartered Bank (Pakistan) Ltd. is the oldest and largest international banks in Pakistan operating since 1863. It is also the first international bank to have been awarded an Islamic banking license and the first to open an Islamic banking branch.

The Bank serves Corporate, Commercial & Institutional Banking (CCIB) and Consumer Private Business Banking (CPBB) Clients through a comprehensive suite of products and services. Corporate Commercial & Institutional Banking comprises Global Subsidiaries, International Corporates, Local corporates and small & medium size clients, Financial Institutions and Sovereign clients. The product and services offered include deposits & cash management, trade, advisory services, secured lending, structured financing, FX forwards and derivatives. Consumer Private Business Banking serves priority, premium, personal and business banking clients. The product and service offering include wealth management, deposits, secured lending (mortgages, overdrafts etc.) and unsecured lending (credit cards, personal loans etc.). All segments offer a complete suite of Islamic banking products and services under Standard Chartered Saadiq brand and state of the art digital banking solutions.

Standard Chartered Bank (Pakistan) Limited is listed on the Pakistan Stock Exchange (PSX) and was assigned a rating of AAA / A1+ by PACRA.

The Bank employs more than 2,500 people in Pakistan and has a network of 209 touch points (40 branches, 134 ATMs and 20 CDMs) across 10 cities.

For more information please visit www.sc.com/pk or follow Standard Chartered Pakistan on Facebook