Katalyst Innovation Fund provides co-funding to establish new post-harvest solution
Many vegetable farmers across Bangladesh suffer from high post-harvest loss of 20 to 40 percent. One reason for this huge loss is the unavailability of proper storage facilities. That is why Katalyst encourages the private sector to come up with new, commercially-profitable solutions that help to overcome this scenario. By offering co-funding and technical assistance through the Katalyst Innovation Fund (KIF), Katalyst now helps Green Housing & Energy Ltd (GHEL) to realize one such innovative business idea: The establishment of the first of its kind, low-cost preservation and chilling center for vegetables in Bogra.
In this centre, vegetable farmers and traders will be able to store their produce for several days so they can attain the optimum market price, which fluctuates enormously due to the surplus of vegetables in the country. GHEL will further offer training on improved post-harvest management practices to the vegetable farmers. This will result in increased income for small and poor farmers due to reducing their post-harvest loss and obtaining a fair market price.
By partnering with Katalyst and the KIF, GHEL will not only benefit from financial support, but the company can also tap into Katalyst’s expertise in developing the storage facility and providing post-harvest management training to farmers and agro traders. After successful evaluation of the pilot project in Bogra, GHEL expects to expand its vegetable storing centres across other parts of Bangladesh.
About Katalyst Innovation Fund (KIF):
KIF supports market actors from the private sector in developing innovative inclusive business models that deliver both commercial benefits and income-generating opportunities for small and poor farmers. For more information, please visit www.innovation-bd.com