DHAKA, May 20, 2024 (BSS) - Standard Chartered Bangladesh and Thengamara Mohila Sabuj Sangha (TMSS) are partnering to empower 11,000 farmers from Bogura, Joypurhat, Sirajganj, Natore, Pabna and Rajshahi to adopt the eco-friendly agricultural practice of polyhouse farming.
 
Polyhouse farming is a modern farming method that enables year-round cultivation, despite external conditions.
 
By providing beneficiaries with polyhouse development resources and the necessary training, the Bank is optimising crop yield and quality while simultaneously catalysing income generation opportunities for thousands, said a press release.
 
As part of this initiative, Standard Chartered is supplying watermelon seeds and other vegetable seeds to beneficiaries to improve homestead gardening efforts.
 
The Bank will also help to set up vermicompost production centres, so that farmers can reduce their dependency on chemical fertiliser. In total, the Bank will contribute over Taka 27 million to implement this project.
 
Lack of access to high quality seed inputs, water scarcity, and overuse of fertiliser and pesticides heavily impact Bangladesh's agricultural sector.
 
To build a more sustainable and productive system, Standard Chartered and TMSS will establish polyhouse farming structures, which will empower farmers to grow high value vegetables like broccoli, capsicum, cabbage, and lettuce, as well as other fruit and flowers together.
 
Standard Chartered is proud to work with TMSS to support 11,000 farmers in northern Bangladesh and to aid them in combating climate challenges and economic uncertainty.
 
Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, said, "For every USD 1 spent on adaptation in Bangladesh, an economic benefit of USD 10 can be generated - indicating a dire need to invest in adaptation projects."
 
According to Standard Chartered's The Adaptation Economy report, focus areas for adaptation in Bangladesh include the adoption of sustainable agriculture practices and improved water resource infrastructure.
"This transformative approach not only ensures consistent yields but also fosters resilience against the escalating threats of climate change, water scarcity, crop vulnerability, and pest infections," added Bijoy.
 
Professor Dr. Hosne-Ara Begum, Founder, Thengamara Mohila Sabuj Sangha (TMSS), said, "TMSS has been working for the development of farmers since the beginning. The main purpose is to boost high-value crop farming in the drought-prone area through modern polyhouse farming methods."
 
She also hoped that this project would help a lot of farmers to produce many varieties of crops during the off season, which will improve their economic condition.