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UCB / Shwapno: UCB AgroBanking

9.5

Media Type:

Experiential

Brand

Agency

Country:

Bangladesh

Industry:

Financial Services

World’s first initiative to turn fresh produce into bank accounts. In Bangladesh, there are 36 million financial outcasts living off the land, and without the ability to access credit, save, and secure their future. Small farmers usually grow more than they can sell in local markets. This excess produce is often wasted or sold at a loss to middlemen. AgroBanking by United Commercial Bank is the world’s first initiative to transform fresh fruits and vegetables—into bank accounts. UCB, one of the Largest Banks partnered with the largest grocery chain in Bangladesh, Shwapno, to purchase such goods at fair prices. AgroBanking allows farmers to open microsavings accounts in exchange for their produce. Through its massive farmer and distribution network, Shwapno can deliver the fresh fruits and vegetables to stores across Bangladesh. Finally giving farmers the opportunity to join the formal economy, reduce inequality and help them grow.