Staff Reporter, Dhaka : BRAC Bank has signed a partnership agreement with Agritech and InsurTech startup –adorsho praniSheba – to provide access to finance to smallholder livestock farmers across the country.

praniSheba assists marginal cattle farmers in Bangladesh with IoT-based cattle identification, wellbeing monitoring, insurance, access to finance, crowdfunding, online veterinary services and forward market linkage support. .

Under this agreement, BRAC Bank will provide collateral-free finance to the enlisted farmers of praniSheba. In this project, praniSheba will facilitate BRAC Bank for developing a customized product dedicated to livestock financing, which will help BRAC Bank expand livestock financing. BRAC Bank will leverage on praniSheba’s field monitoring and market linking support to farmers as part of this mutual partnership.

Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank, and Fida Haq, Managing Director and CEO, praniSheba, signed the agreement on behalf of their respective organization at the bank’s Head Office in Dhaka on June 12, 2023.

From BRAC Bank, Sabbir Hossain, Deputy Managing Director & and Chief Operating Officer; Alomgir Hossain, Head of Small Business (Central); Mohammad Jakirul Islam, Head of Strategic Alliances & Digital Financial Services; Tapos Kumar Roy, Head of MFI and Agriculture Finance; and other senior personnel were present. From praniSheba, AHM Sultanur Reza, Chief Operating Officer, attended the signing ceremony.