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 on the sidelines of the World Food Forum in Rome on Saturday (12 October).
“I encourage you to create a social business fund,” Yunus said, adding that such an initiative would help address social issues like healthcare for the poor while promoting entrepreneurship among youth, farmers, women, and fishers.
During the meeting, both sides discussed strategic areas of cooperation, including support for Bangladesh’s deep-sea fishing industry, expanding exports of mangoes and jackfruit, promoting climate-resilient agriculture, and helping buffalo farmers produce dairy products such as mozzarella cheese.
Yunus invited Lario to visit Bangladesh and send a team to explore collaborative opportunities in agriculture, technology, and social business, said Deputy Press Secretary Azad Majumder.
In response, the IFAD President expressed keen interest in expanding support for social business initiatives and increasing private-sector collaboration in Bangladesh. He noted that IFAD is currently funding more than six agricultural projects in the country.
The Chief Adviser also stressed the need for technological and investment support in fruit processing, cold storage, warehousing, and large-scale exports of tropical fruits like mangoes and jackfruit.
“We’ve begun exporting mangoes, but the volume is still small. China has shown interest in importing large quantities of both mangoes and jackfruit,” Yunus said.
Fisheries and Livestock Adviser Farida Akhter, who attended the meeting, highlighted that Bangladeshi women dairy farmers are already producing mozzarella cheese from buffalo milk, and sought IFAD’s assistance to expand dairy production.
Discussing the untapped deep-sea fishing potential in the Bay of Bengal, Yunus noted that most Bangladeshi fishermen operate only in shallow waters due to limited technology and investment. “We don’t yet dare to go into deep-sea fishing. IFAD can support this through funding and technology sharing,” he said.
Since 1978, IFAD has partnered with Bangladesh on 37 projects worth $4.26 billion, including $1.13 billion directly financed by IFAD. Currently, six projects worth $412 million are underway, with one more in the pipeline.
Yunus arrived in Rome on Saturday evening to attend the World Food Forum organised by the Food and Agriculture Organization (FAO), where he will deliver a keynote speech and hold meetings with other high-level dignitaries.
