Chief Adviser Professor 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. He made the proposal during a meeting with IFAD President Alvaro Lario on the sidelines of the World Food Forum in Rome.
During the meeting, Professor Yunus emphasized that such a fund would not only promote entrepreneurship but also address critical social issues, including healthcare for the poor and opportunities for women and youth in agriculture and fisheries. “I encourage you to create a social business fund,” Yunus said, stressing that it could empower marginalized groups while driving sustainable development.
The two leaders also discussed a wide range of strategic priorities for Bangladesh’s agricultural sector:
- Deep-sea fishing industry: Yunus highlighted the untapped potential of the Bay of Bengal, noting that most Bangladeshi fishermen remain confined to shallow waters due to lack of investment and technology. He urged IFAD to provide funding and technical expertise to help launch a viable deep-sea fishing industry.
- Fruit exports: With growing international demand, especially from China, Yunus stressed the need for investment in fruit processing, cold storage, and warehousing to expand exports of mangoes and jackfruit.
- Climate-resilient agriculture: Both sides discussed promoting climate-smart agricultural entrepreneurship to safeguard food security in the face of environmental challenges.
- Dairy sector development: Fisheries and Livestock Adviser Farida Akhter showcased how Bangladeshi women dairy farmers are producing mozzarella cheese from buffalo milk. She requested IFAD’s support to scale up dairy production and diversify value-added products.
Professor Yunus also extended an invitation to President Lario to visit Bangladesh and send an IFAD team to explore collaboration opportunities in agriculture, social business, and technology.
In response, President Lario expressed IFAD’s keen interest in supporting social business initiatives and expanding partnerships with the private sector in Bangladesh. He noted that IFAD is already funding more than half a dozen agricultural projects in the country and is eager to build on that foundation.
The proposal reflects Yunus’s broader vision of integrating social business principles into development financing, ensuring that investments generate both economic returns and measurable social impact. If realized, the fund could become a transformative tool for empowering farmers, women, and youth while strengthening Bangladesh’s agricultural economy.
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