Chief Adviser Yunus has called on the International Fund for Agricultural Development (IFAD) to establish a social business fund to support young agricultural entrepreneurs, farmers, women, 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 (WFF) in Rome on Sunday local time.
“I encourage you to create a social business fund,” said Yunus, adding, “Such a fund would address social issues including healthcare for poor and promote entrepreneurship among youth, farmers, women, and those involved in the fishing industry.”
CA and President Lario exchanged views on several key areas of cooperation, including launching Bangladesh’s deep-sea fishing sector, promoting exports of mangoes and jackfruit, fostering climate-resilient agricultural entrepreneurship, and supporting buffalo farmers in producing dairy items such as mozzarella cheese.
According to Deputy Press Secretary Abul Kalam Azad Majumder, Yunus invited Lario to visit Bangladesh and dispatch a team to explore collaboration opportunities in agriculture, technology, and social business.
Lario, in response, expressed IFAD’s strong interest in expanding its partnership with Bangladesh through social business ventures and private-sector engagement. He also noted that IFAD is currently financing more than half a dozen agricultural development projects in the country.
The CA stressed the importance of technological assistance and investments in fruit processing, cold storage, warehousing, and large-scale exports of tropical fruits.
He said, “We’ve begun exporting mangoes, but the volume is still small. China has expressed interest in importing big quantities of both mangoes and jackfruit from Bangladesh.”
Adviser on Fisheries and Livestock Farida Akhter, who was also present, highlighted the success of Bangladeshi women dairy farmers producing mozzarella cheese from buffalo milk. She sought IFAD’s support to expand dairy and cheese production nationwide.
Discussing the unexplored potential of the Bay of Bengal’s deep-sea fisheries, Yunus pointed out that most local fishermen still operate in shallow waters due to limited investment and technology.
“We don’t yet dare to go into deep-sea fishing. IFAD can support this sector through funding and technology sharing,” he said.
Since beginning its operations in Bangladesh in 1978, IFAD has partnered in 37 projects worth a combined US$4.26 billion, including US$1.13 billion directly financed by the agency. Currently, 6 projects worth US$412 million are being implemented, with one more in the pipeline.
Yunus arrived in Rome around 5pm to attend the Food and Agriculture Organization (FAO)-organised World Food Forum, where he will deliver a keynote address and meet with several high-level dignitaries.
Food Adviser Ali Imam Majumder, SDG Coordinator and Senior Secretary Lamiya Morshed, Foreign Secretary Asad Alam Siam, and IFAD Associate Vice-President Donal Brown also joined the meeting.
