KATHMANDU April 12: United Nations Capital Development Fund's (UNCDF) MM4P program, SunFarmer Nepal and Prabhu Management have signed a tripartite deal that aims to transform agriculture in Nepal with digital technology.
According to a statement issued by the UNCDF, the three parties signed the deal last week to implement a project to enhance farmer's income by integrating digital technology in agricultural value chains.
Mobile Money for the Poor (MM4P) is a UNCDF program that provides financial, technical and policy support to build robust digital financial system that reach low-income people in least developed countries including Nepal. “UNCDF MM4P in Nepal will support SunFarmer to implement an innovative community owned contract farming model driven on digital innovations,” reads the statement of the UNCDF. “The solution will include pay-as-you-go solar pumps, a state of the art agriculture market intelligence system for farmers and access to finance for agriculture inputs, logistics and sales.”
Prabhu Management through its rural agent network will provide the distribution infrastructure for financial services, according to the statement.
“Smallholder farmers in Nepal face many barriers to prosperity. With support from UNCDF, SunFarmer Nepal in partnership with Prabhu Management will help farmers to increase their income with modern agricultural solutions and digital finance,” the statement quoted Avishek Malla, CEO of SunFarmer Nepal, as saying.
“Our agribusiness will invest in infrastructure (irrigation and processing), provide quality inputs, train farmers on high-value crop cultivation and market and sell farmers' product via a co-owned company between SunFarmer and partner farmers.”