Bangladesh’s agricultural sector relies heavily on manual labor, with less than 2% mechanization for harvesting and planting. However, as the sector faces labor shortages, agri-mechanization is needed which can be done through innovative financing. The video explains Bangladesh’s current agricultural scenario and the role of the CSISA-MEA project in improving the situation through increased mechanization and innovative financing. LightCastle Partners is a leading contributor to the CSISA-MEA project aiming to increase agricultural resilience, productivity, and profitability.
For this project, LightCastle Partners, in collaboration with WeGro, developed an innovative asset-backed financing instrument to provide investments to 10 Machine Service Providers (MSPs) and 4 MSMEs for agri-mechanization. As part of the CSISA-MEA project, this initiative also provided business development support to 35 MSMEs and MSPs.
Read more about the CSISA-MEA project’s report: https://www.lightcastlebd.com/insights/2023/12/innovative-financing-in-ag-mechanization/
Read more about ag-mechanization in Bangladesh: https://www.lightcastlebd.com/news/unlocking-new-horizons-agri-mechanization/