Financial services that help farmers access agricultural inputs and technologies
Innovation Type:
Energy-Food
Product Segment:
Financial Solution
Country of Incorporation:
Iraq
Country of Implementation:
Iraq
Company Stage:
Stage 3: 1,001 to 10,000 end-users
Seeking Investment:
Yes, $250,000 USD
Financing Goals:
Seeking combination of debt and equity
Contact Name:
Moumen Makki
Contact Email:
Website:
Challenges
Smallholder farmers in Iraq are experiencing instability with their power supply. The national power grid frequently experiences shortages, leading farmers to alternate between grid-supplied energy and diesel generators to ensure stable power for irrigation. This additional reliance on diesel generators results in increased monthly expenses for farmers.
Solutions
Ras Al Ain Sky offers renewable energy solutions for sustainable agriculture that provide reliable and affordable energy sources, enabling farmers to increase productivity and reduce reliance on fossil fuels. Among their solutions are solar water pumping, solar systems for irrigation, and inverters. The company also provides smallholder farmers with payment facilities and microloans ranging from US $3,000 to $5,000 USD to purchase these solutions. To make these loans more accessible, the interest rate is 8% and payments are made on a quarterly basis.
