Chief Adviser Prof Muhammad Yunus has called on the International Fund for Agricultural Development (IFAD) to establish a dedicated social business fund to support young agricultural entrepreneurs, women, farmers, and food processors in Bangladesh.
The proposal was made during a bilateral meeting with IFAD President Alvaro Lario on the sidelines of the World Food Forum in Rome on Sunday.
“A social business fund would not only promote entrepreneurship but also address critical social challenges, including healthcare for the poor,” Prof Yunus said, emphasizing the need for inclusive growth across agriculture and fisheries.
The meeting covered a wide range of strategic priorities, including support for Bangladesh’s deep-sea fishing industry, expansion of mango and jackfruit exports, promotion of climate-resilient agricultural entrepreneurship, and assistance for buffalo farmers producing dairy products such as mozzarella cheese.
Prof Yunus invited IFAD president to visit Bangladesh and dispatch a technical team to explore collaborative opportunities in agriculture, social business, and technology, according to Deputy Press Secretary Abul Kalam Azad Majumder.
Lario welcomed the proposal and reaffirmed IFAD’s commitment to supporting social business initiatives and strengthening partnerships with the private sector.
He noted that IFAD is currently financing over half a dozen agricultural projects in Bangladesh.
Prof Yunus also highlighted the country’s urgent need for investment in fruit processing, cold storage, warehousing, and scaling up tropical fruit exports.
“We’ve begun exporting mangoes, but volumes remain low. China has shown interest in importing large quantities of mangoes and jackfruit,” he said.
Farida Akhter, adviser for Fisheries and Livestock, underscored the role of women dairy farmers in producing mozzarella cheese from buffalo milk and requested IFAD’s support to expand dairy production nationwide.
On the topic of deep-sea fishing, Prof Yunus pointed out that most Bangladeshi fishermen operate in shallow waters due to limited investment and technological capacity.
“We don’t yet dare to go into deep-sea fishing. IFAD can help unlock this potential through funding and technology transfer,” he added.
Since its engagement in Bangladesh began in 1978, IFAD has partnered on 37 projects totaling $4.26 billion, with $1.13 billion directly financed by the organization.
Currently, six projects worth $412 million are underway, with another in the pipeline.
Prof Yunus arrived in Rome to attend the World Food Forum, organized by the Food and Agriculture Organization (FAO), where he is scheduled to deliver a keynote address and meet with global dignitaries.
The meeting was also attended by Food Adviser Ali Imam Majumder, SDG Coordinator and Senior Secretary Lamiya Morshed, Foreign Secretary Asad Alam Siam, and IFAD Associate Vice-President Donal Brown.
