Prime Bank has announced a partnership with a USAID-funded horticulture project.
The bank partnered with the project – Feed the Future Bangladesh Horticulture, Fruits, and Non-food Crops Activity – for an intervention on “Instant and Digital Access to Finance Through Prime Bank’s Agent Banking.”
The horticulture activity supports the government of Bangladesh’s food security objectives by strengthening the private sector’s capacity to increase productivity and production of quality horticulture, fruits, and non-food crops that meet domestic and international standards.
The objective of the partnership is to offer harvest-based loans for smallholder farmers and input retailers and introduce a digital application and an instant eligibility screening system to shorten loan applications and processing times.
Marcos Moreno, Chief of Party of the Horticulture Activity said, “We are excited to participate in this very innovative initiative. The activity is motivated to add value to innovative solutions driven by private sector actors like Prime Bank. It looks forward to working in partnership to unlock the gap for the thousands of unbanked and underserved rural women and men involved in horticultural crops.”