Standard Chartered and Friendship supports 2,500 char-based farmers

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Standard Chartered and Friendship supports 2,500 char-based farmers

BMirror Desk:

Standard Chartered Bangladesh and Friendship have launched a comprehensive project to support 2,500 farmers – belonging to remote and climate vulnerable char communities – with farm-to-market support and resources. Through this project, the Bank and Friendship will uplift 2,500 individuals from across ten of the country’s most remote chars in northern and southern Bangladesh. 

This carefully designed intervention will cover all the phases of a traditional agricultural cycle. Each of the 2,500 farmers will receive essential inputs – such as cattle, poultry, climate and salt tolerant seeds, fertilizer, and pesticide. They will also learn how to make the best use of the resources at hand, deal with the varied impacts of climate change, and scale operations sustainably. Standard Chartered and Friendship will also create links between individual farmers and key market hubs. These market linkages will ensure farmers receive fair prices for their produce and reduce reliance on intermediaries. 

The Bank will also work with Friendship to help facilitate connections between beneficiaries and microfinance institutions and government bodies. This collaborative initiative is aimed at supporting beneficiaries to increase their agricultural output; produce high quality crops with increased efficiency; improve the nation’s food and nutrition systems; rise above poverty; and build overall community resilience. 

Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, said, “A robust agriculture value chain that is fair, equitable, and transparent is essential to help the hard-working farmers of Bangladesh thrive. By working with Friendship, we are helping to meet the needs of 2,500 of our nation’s smallholder farmers. This is critical as recent findings reveal that smallholders provide up to 80% of the food supply in Asia and sub-Saharan Africa. Our goal is to create a lasting impact that goes beyond financial assistance, fostering self-reliance and prosperity among some of our nation’s most isolated families and farming communities.”

Runa Khan, Founder and Executive Director, Friendship, said, “The change within the ten remote chars extends far beyond the 2,500 farmers – it is multi-fold! Their lives, livelihoods, and families will be transformed, upholding dignity of the farmers and impacting not only their communities but also the entire micro-economies surrounding the chars. This partnership with Standard Chartered Bangladesh will propagate prosperity and empowerment on a grand scale, showcasing the power of collaboration in driving sustainable development.”

As a steadfast partner in Bangladesh’s remarkable journey of growth and resilience, Standard Chartered upholds a legacy of commitment spanning over 119 years. Guided by an enduring dedication to progress, the Bank stands firmly in support of the country’s vital agriculture sector. For over a century, Standard Chartered has invested in communities, expanded services, created new opportunities for stakeholders, and fostered inclusive initiatives – all of which exemplify the Bank’s commitment to cultivating sustainable development in Bangladesh’s agricultural landscape.

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