BRAC Bank, the Population Crisis Control and Mass Education Committee (PCC&MEC) and AgriPulse have signed a strategic partnership to expand climate-resilient agricultural finance and sustainable finance, Arthosuchak reports. The agreement was signed recently at an event in Dhaka.
Under the deal, BRAC Bank will provide loans for climate-resilient farming, with an emphasis on sustainable finance. PCC&MEC will act as the link between farmers and the lending process, helping deliver finance to beneficiaries and supporting implementation. AgriPulse will provide technology-based technical support across the financing process, including data management and monitoring.
The three aim to widen farmers' access to formal financial services, encourage sustainable farming practices and strengthen farmers' ability to cope with climate-related challenges, combining the bank's finance, the organisation's field coordination and the technology firm's technical capacity into a more effective farm-finance system.
The agreement was signed by Syed Abdul Momen, additional managing director and head of SME banking at BRAC Bank; Mirza Shamim Reza, executive director of PCC&MEC; and Mohammad Ishrat Ullah, founder and owner of AgriPulse. BRAC Bank's head of SME strategy, innovation and new business Mohammad Zakirul Islam and head of MFI and agriculture finance Tapas Kumar Roy also attended.
Syed Abdul Momen said farmers need lower-interest finance for the sector to grow, and climate-resilient farming must expand with climate change in mind. He said the partnership sets a new standard in technology-driven digital lending for sustainable agriculture in Bangladesh, which the partners hope will support national food security in the long term.
Photo: Balaram Mahalder / Wikimedia Commons (CC BY-SA 3.0)
Source: Arthosuchak
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