The ceremony was presided over by Chairman of Grameen Telecom Trust, Nobel Laureate Professor Muhammad Yunus. Ms. Parveen Mahmud (Managing Director, GTT) & Mr. Sazzad Hossain (Executive Director, Red Worm Vermicompost) signed the agreement on behalf of their respective organizations.

GTT and Red Worm Vermicompost will jointly establish the social business initiative on the production of vermicompost- A Social Business for Organic Fertilizer. The social business focuses on the production of organic fertilizer. Vermiculture a culture of earthworms and microorganisms will be used to convert organic waste into black, earthy-smelling, nutrient-rich worm castings (worm feces). Vermicompost can be used in a wide range of products like gardening, agriculture purposes etc.