• Tuesday, Sep 29, 2020
  • Last Update : 11:12 am

ADB, Pran Dairy sign $10m deal to support dairy value chain

  • Published at 04:20 pm September 14th, 2020
Lack of sale frustrates Rajbari dairy farmers
Dairy farmers in Rajbari continue to produce milk amid the coronavirus pandemic despite its lack of sales Dhaka Tribune

The loan will allow PDL to continue to procure raw milk from the 12,000 smallholder dairy farmers within its value chain, and further expand to another 1,200 farmers who would otherwise lose income

The Asian Development Bank (ADB) and Pran Dairy Limited (PDL), a member of one of the biggest food and agribusiness groups in Bangladesh, on Monday signed a $10 million loan agreement to support dairy value chain during the coronavirus (Covid-19) pandemic.

The loan will allow PDL to continue to procure raw milk from the 12,000 smallholder dairy farmers within its value chain, and further expand to another 1,200 farmers who would otherwise lose income, said an ADB press release.

“Covid-19 has caused significant disruptions in the agricultural value chain,” said Investment Specialist at the Agribusiness Investment Unit of ADB’s Private Sector Operations Department Tushna Dora.

“This has resulted in food waste, while restrictions in labor movement have interrupted the harvest and delayed food processing. It is essential that we provide financial support to food supply chain participants, to bolster the livelihoods of farmers and factory workers while guaranteeing the continued availability of essential food items,” added the official.

“PDL is engaged in adding value and increasing the shelf life of agri-produce through collecting, processing, packaging, and distributing ready to consume products to thousands of consumers at home and abroad,” said Chief Financial Officer of PDL Uzma Chowdhury.

“The value chain connects farmers with consumers, and was disrupted in many ways by the pandemic. ADB’s timely support will help to mend disruptions of the value chain and create stronger linkages between farmers and consumers—boosting the local agri-based economy.” added Uzma.

While PDL has sufficient processing and storage capacity to ensure uninterrupted supply to consumers, the loan will provide emergency working capital for additional support in response to the Covid-19 pandemic.

The release said PDL is a member of the PRAN-RFL Group (PRAN), one of the largest private employers in Bangladesh. PDL manufactures and markets milk and milk products and is one of the three largest companies in the country’s organized dairy sector.

53
53
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail