Unlocking New Horizons in Agri Mechanization

LightCastle Editorial Wing
October 1, 2023
Unlocking New Horizons in Agri Mechanization

LightCastle, in partnership with WeGro and Green Delta Insurance, facilitates BDT 4+ million asset-backed equity instruments along with micro-insurance coverage in agricultural machinery for 10 MSMEs and farmers in Cox’s Bazar, Bangladesh. 

LightCastle, in partnership with Wegro Technologies and Green Delta Insurance, facilitates asset-backed equity instruments in agricultural machinery for farmers in Cox’s Bazar.

LightCastle Partners, in collaboration with WeGro and Green Delta Insurance, facilitated an agriculture machinery financing project with insurance coverage as a part of the advisory and implementation component for the project, CSISA-MEA, supported by USAID and implemented by CIMMYT, iDE, and Georgia Institute of Technology. 

LightCastle’s deep-rooted expertise in financial inclusion, strengthened partnerships with financial providers, and familiarity with co-designing and implementing innovative financial solutions for low-income communities and enterprises helped generate insured investments for 8+ agricultural machinery service providers and 2 MSMEs. This new form of investment will hopefully open up more opportunities in agriculture development in the Cox’s Bazar region. 

Ivdad Ahmed, Director of LightCastle Partners speaking at the event

Innovative financial products offered by WeGro ease the investment process for farmers and provide them prompt support for financing and repayment cycles that match their business cash flow.

The investments are secured by the asset itself, making it less risky for the investors and allowing farmers to enjoy a collateral-free investment. The micro-insurance coverage adds significant value to the investors as well as the farmers – offering safeguarding mechanisms from unforeseen conditions and natural calamities.

About the Project

The Feed the Future Cereal Systems Initiatives for South Asia Mechanization Extension Activity (CSISA-MEA) is a five-year USAID-funded and CIMMYT-led initiative. The goal of CSISA-MEA is to increase agricultural resilience, productivity, and profitability by enhancing the competitiveness and effectiveness of agricultural machinery lead firms and generating business opportunities for collaboration with U.S. manufacturing companies, technical institutions, and financial advisory firms.

The activity will also concentrate on training a gender-inclusive workforce, with a particular emphasis on the linked support market actors and manufacturing micro, small, and medium-sized enterprises (MSMEs) in Bangladesh and crisis-affected areas.

WRITTEN BY: LightCastle Editorial Wing

For further clarifications, contact here: [email protected]

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