BRAC Bank, IFPRI partner to build digital financing ecosystem for farmers

By the Editorial Team · Monday, October 19, 2026

BRAC Bank and IFPRI have launched a two-year pilot program to expand digital payments and formal credit access for 50,000 farmers and 1,500 agricultural retailers in Bangladesh’s farming sector. By using digital transaction data to improve credit assessments, the initiative aims to reduce dependence on informal lending and support more inclusive economic growth in rural areas.

BRAC Bank and the International Food Policy Research Institute (IFPRI) have launched a two-year pilot program aimed at expanding digital payments and formal credit access within Bangladesh’s agricultural sector. Supported by the Bill & Melinda Gates Foundation, the initiative seeks to integrate farmers and agricultural input retailers into a digital financial ecosystem, enhancing their ability to secure formal financing.

The pilot, set to run until October 2028, targets approximately 50,000 farmers and 1,500 agricultural retailers. By bringing these stakeholders into the digital payments system, the program will leverage transaction histories to better assess creditworthiness, potentially reducing reliance on informal lending sources that have historically dominated credit access in rural Bangladesh.

Under the partnership, BRAC Bank and IFPRI will collaborate to develop and implement payment and credit solutions through the bank’s existing digital platforms—Astha, Shafollo, and Jibika—as well as its network of Agent Banking outlets. IFPRI will lead robust impact assessments using randomized evaluations to identify drivers of adoption and determine the program’s effectiveness and potential for wider scale-up. The resulting data will inform policymakers and support evidence-based decision-making regarding broader national implementation.

The agreement was formalized in a signing ceremony attended by BRAC Bank Additional Managing Director and Head of SME Banking Syed Abdul Momen and IFPRI Director General Johan Swinnen. Additional representatives present included BRAC Bank Additional Managing Director and Head of Wholesale Banking Md Shaheen Iqbal, IFPRI Senior Research Fellow Kate Ambler, Bangladesh Country Representative Moogdho Mahzab, and Research Fellow and Project Lead Mehrab Bakhtiar.

By integrating digital financial tools into agricultural value chains, the initiative aims to facilitate increased access to formal credit for farmers and retailers, potentially driving greater economic inclusion and supporting sectoral growth across Bangladesh.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.