Chief Adviser Professor Muhammad Yunus has called on the International Fund for Agricultural Development (IFAD) to establish a social business fund to support young agricultural entrepreneurs, women, farmers, and food processors in Bangladesh.
He made the proposal during a meeting with IFAD President Alvaro Lario in Rome on Sunday, on the sidelines of the World Food Forum events.
Professor Yunus said, “I urge you to create a social business fund. Such a fund would assist the poor, young entrepreneurs, farmers, women, and those involved in the fisheries sector to improve their livelihoods and access to healthcare.”
During the meeting, the two leaders discussed several strategic issues, including the development of Bangladesh’s deep-sea fishing industry, expansion of mango and jackfruit exports, promotion of climate-resilient agripreneurs, and support for dairy production—particularly mozzarella cheese made from buffalo milk.
Professor Yunus invited the IFAD President to visit Bangladesh and requested that a team of experts be sent to explore collaboration opportunities in agriculture, social business, and technology.
In response, IFAD President Alvaro Lario expressed strong interest in working with Bangladesh’s private sector to advance social business initiatives. He noted that IFAD is currently financing more than half a dozen agricultural projects in Bangladesh.
The Chief Adviser emphasized the need for investment and technical support in fruit processing, cold storage, warehousing, and large-scale export of mangoes and jackfruits. “We have already begun exporting mangoes, but the volume remains low,” he said, adding that China has expressed a keen interest in importing significant quantities of mangoes and jackfruits from Bangladesh.
Fisheries and Livestock Adviser Farida Akhter, who attended the meeting, highlighted that Bangladeshi women dairy farmers are already producing mozzarella cheese from buffalo milk. She urged IFAD to support the expansion of this sector.
Discussing the Bay of Bengal’s deep-sea fisheries potential, Professor Yunus said Bangladeshi fishermen remain confined to shallow waters due to a lack of investment and technological expertise. “We still hesitate to go into deep-sea fishing. IFAD can play a major role in addressing this by providing funding and technological support,” he added.
Since beginning its operations in Bangladesh in 1978, IFAD has partnered in 37 projects with a total investment of USD 4.26 billion, of which USD 1.13 billion was directly financed by IFAD. Currently, six projects worth USD 412 million are being implemented, with another under preparation.
Professor Yunus arrived in Rome at 5 p.m. local time on Sunday. He is scheduled to attend the World Food Forum, organized by the United Nations Food and Agriculture Organization (FAO), where he will deliver a keynote address.
The meeting was also attended by Food Adviser Ali Imam Majumder, Principal Coordinator for SDGs and Senior Secretary Lamia Morshed, Foreign Secretary Asad Alam Siam, and IFAD Associate Vice President Donal Brown.
