Dr. Muhammad Yunus Calls IFAD for Youthful Agri-Advancement Fund
Professor Dr. Muhammad Yunus, Chief Advisor of Bangladesh, has called for the establishment of an international agricultural development fund to create a “social business fund” aimed at supporting young agricultural entrepreneurs, women, farmers, and food processors in the country.
The proposal was made during a meeting with Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), on the sidelines of the World Food Forum.
Professor Yunus said, “Such a fund will play a role in addressing social issues, including healthcare for underprivileged populations, and will help develop youth, farmers, women, and those involved in fisheries as entrepreneurs.”
During the discussion, the leaders addressed strategic areas including the initiation of deep-sea fisheries in Bangladesh, expanding mango and jackfruit exports, fostering climate-resilient agricultural entrepreneurs, and supporting farmers in dairy production such as mozzarella cheese from buffalo milk.
The Chief Advisor invited the IFAD President to visit Bangladesh and suggested sending a delegation to explore potential collaborations in agriculture, social business, and technology sectors.
President Lario expressed IFAD’s interest in partnering with social business initiatives in Bangladesh and strengthening cooperation with the private sector. He noted that IFAD is currently funding more than half a dozen agricultural projects globally.
Dr. Yunus highlighted the need for technical assistance and investment in fruit processing, cold storage, warehousing, and export expansion for tropical fruits like mangoes and jackfruits. He said, “We have already started exporting mangoes, but the quantity remains limited. China has shown significant interest in importing mangoes and jackfruits from Bangladesh.”
Referring to the untapped potential of deep-sea fisheries in the Bay of Bengal, the Chief Advisor added, “Due to a lack of investment and technical knowledge, most fishermen still operate in shallow waters. We do not yet venture into deep seas. With IFAD funding and technical support, significant progress in this sector is possible.”
Since commencing operations in Bangladesh in 1978, IFAD has partnered in 37 projects with a total value of USD 4.26 billion, of which USD 1.13 billion was directly financed by IFAD. Currently, six projects worth USD 412 million are ongoing in Bangladesh, with an additional project in the pipeline.
