iFarmer has recently signed an agreement with United Commercial Bank (UCB) to facilitate financing for farmers across Bangladesh.
Marking its third partnership with financial institutions, iFarmer is planning to provide agricultural loan facilities directly from financial institutions, reads a press release. The primary focus of this partnership is to facilitate agri loans for farmers.
The signatories of the agreement-signing ceremony were Jamil M Akbar, managing director and chief operations officer from iFarmer, and Arif Quadri, managing director and CEO from UCB.
On behalf of iFarmer, Mohd Fahad Ifaz, chief executive officer, and Tahmid Hasan, head of Partnership and Growth, were present.
Meanwhile, Nabil Mustafizur Rahman, additional managing director, Md Shah Alam Bhuiyan, deputy managing director, ATM Tahmiduzzaman, deputy managing director, Md Abdullah Al Mamoon, deputy managing director, were present from UCB.
Fahad Ifaz, CEO & co-founder of iFarmer said: “We are pleased to be able to partner up with United Commercial Bank to help the farmers of the country with the finances required. With the support of banks, we will be able to leverage farmer risk scores, field monitoring, and last-mile assistance to the farmers. In the near future, we are also planning to facilitate agricultural loans straight from the financial institutions.”
