Pioneer Facility makes first investment in Bangladesh through iFarmer

Pioneer Facility, an international fund that finances socially, economically, and environmentally impactful initiatives, has announced its first investment in Bangladesh, allocating USD 500,000 to iFarmer.

Managed by Nexus for Development, this funding aims to benefit smallholder farmers by facilitating the fair purchase of agricultural produce and the timely delivery of high-quality farming inputs.

This marks Pioneer Facility's entry into Bangladesh after expanding its regional operations to include the country in 2024.

iFarmer empowers smallholder farmers economically by providing them with access to quality agricultural inputs, financial services, advisory support, insurance, and fair market linkages. Connecting farmers with suppliers and financial institutions enhances productivity, increases income, and promotes sustainable agricultural practices.

"Smallholder farmers in Bangladesh still face significant barriers in accessing affordable finance and quality inputs," said Laura Alsenas, Executive Director of Nexus for Development. "iFarmer's innovative model is transforming the agri-supply chain and creating economic opportunities for farmers. This investment by Pioneer Facility will allow the model to scale further, contributing to a more resilient and sustainable food system in Bangladesh."

Fahad Ifaz, Co-founder and CEO of iFarmer welcomed the funding announcement, stating: "This support from Pioneer Facility will enable us to reach more farmers with improved inputs, easier access to finance, and a more robust supply chain—all of which will directly improve farmers' incomes and livelihoods."

Through Pioneer Facility, Nexus for Development supports impactful ventures tackling climate change, gender equality, and poverty alleviation. Registered in Singapore, the fund finances climate-resilient initiatives across Southeast Asia and Bangladesh and has disbursed over USD 3.7 million to date.