iFarmer ties up with UCB to support farmers

iFarmer has recently signed an agreement with United Commercial Bank Limited (UCB) to facilitate financing for farmers across the country.

Marking its third partnership with financial institutions, iFarmer is planning to provide agricultural loan facilities directly from financial institutions. The primary focus of this partnership is to facilitate agri loans for farmers.

iFarmer Managing Director & Chief Operations Officer Jamil M Akbar and UCB Managing Director & CEO Arif Quadri signed the agreement, UCB said in a statement.

iFarmer CEO & Co-Founder Fahad Ifaz said, “We are pleased to be able to partner with United Commercial Bank Limited 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. Soon, we are also planning to facilitate agricultural loans straight from the financial institutions.”