CA Urges IFAD to Launch Social Business Fund for Agri Youth

Chief Adviser Professor Muhammad Yunus met IFAD President Alvaro Lario on the sidelines of the World Food Forum at FAO Headquarters in Rome on Sunday.

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.

Professor Yunus made the proposal during a meeting with IFAD President Alvaro Lario on the sidelines of the World Food Forum in Rome on Sunday (local time), according to the Chief Adviser’s Press Wing.

“I encourage you to create a social business fund,” Professor Yunus said, noting that such a fund could address pressing social issues, including healthcare for the poor, while promoting entrepreneurship among youth, women, and those engaged in farming and fisheries.

During their discussion, the Chief Adviser and the IFAD President exchanged views on a wide range of strategic areas, including launching Bangladesh’s deep-sea fishing industry, expanding exports of mangoes and jackfruit, fostering climate-resilient agricultural enterprises, and supporting buffalo farmers to produce dairy products such as mozzarella cheese.

Professor Yunus invited President Lario to visit Bangladesh and send a technical team to explore collaborative opportunities in agriculture, social business, and technology.

In response, the IFAD President expressed strong interest in supporting social business initiatives and expanding collaboration with the private sector in Bangladesh. He also noted that IFAD currently funds more than half a dozen agricultural projects in the country.

The Chief Adviser highlighted Bangladesh’s growing need for technological support and investment in fruit processing, cold storage, warehousing, and the large-scale export of tropical fruits.

“We’ve started exporting mangoes, but the quantity remains small. China has expressed interest in importing large volumes of both mangoes and jackfruit from Bangladesh,” Professor Yunus said.

Fisheries and Livestock Adviser Farida Akhter, who also attended the meeting, shared how Bangladeshi women dairy farmers are producing mozzarella cheese from buffalo milk. She urged IFAD to provide assistance to expand cheese and other dairy production in the country.

Discussing the vast untapped potential of the Bay of Bengal’s deep-sea fishing resources, Professor Yunus said most Bangladeshi fishermen currently operate in shallow waters due to limited investment and a lack of modern technology.

“We have yet to venture into deep-sea fishing. IFAD can play a vital role in developing this sector through funding and technology transfer,” he added.

Since 1978, IFAD has collaborated with Bangladesh on 37 projects worth US$ 4.26 billion, of which US$ 1.13 billion came directly from IFAD’s financing. At present, six projects worth US$ 412 million are underway, with one more in the pipeline.

Professor Yunus arrived in Rome around 5 p.m. on Sunday to attend the World Food Forum, hosted by the Food and Agriculture Organization (FAO). He is scheduled to deliver a keynote address and hold bilateral meetings with senior global dignitaries.

Also present at the meeting were Food Adviser Ali Imam Majumder, SDG Coordinator and Senior Secretary Lamiya Morshed, Foreign Secretary Asad Alam Siam, and IFAD Associate Vice-President Donal Brown.