Bangladesh urges IFAD to create social business fund for farmers and entrepreneur

October 13, 2025 (MLN): Bangladesh has urged the International Fund for Agricultural Development (IFAD) to establish a social business fund to support young agricultural entrepreneurs, women, farmers, and food processors.

Chief Adviser Professor Muhammad Yunus made the proposal during a meeting with IFAD President Alvaro Lario on the sidelines of the World Food Forum in Rome, Italy, according to the Chief Adviser’s Press Wing, as reported by APP.

“I encourage you to create a social business fund,” said Professor Yunus, explaining that such a fund would help address social challenges like healthcare for the poor while promoting entrepreneurship among youth, farmers, women, and those in the fishing industry.

During the meeting, the two leaders discussed several strategic issues, including launching Bangladesh’s deep-sea fishing industry, expanding exports of mangoes and jackfruit, promoting climate-resilient agricultural entrepreneurship, and supporting buffalo farmers in producing dairy products such as mozzarella cheese.

Professor Yunus invited the IFAD President to visit Bangladesh and send a team to explore potential collaboration in agriculture, social business, and technology.

In response, President Lario expressed IFAD’s keen interest in supporting social business initiatives and expanding cooperation with the private sector in Bangladesh.

He noted that IFAD is currently financing more than half a dozen agricultural projects in the country.

The Chief Adviser also highlighted Bangladesh’s need for technological support and investment 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 expressed interest in importing large quantities of both mangoes and jackfruit from Bangladesh,” he said.

Fisheries and Livestock Adviser Farida Akhter noted that Bangladeshi women dairy farmers are producing mozzarella cheese from buffalo milk and requested IFAD’s assistance to scale up dairy production.

Discussing the untapped potential of the Bay of Bengal’s deep-sea fishing industry, Professor Yunus said most Bangladeshi fishermen operate only in shallow waters due to a lack of 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 added.

Since 1978, IFAD has partnered on 37 projects in Bangladesh worth $4.26 billion, of which $1.13 bn was directly financed by IFAD. Currently, six projects worth $412 million are underway, with another in the pipeline.

Professor Yunus arrived in Rome on Sunday evening to attend the World Food Forum organized by the Food and Agriculture Organization (FAO). He is scheduled to deliver a keynote address and meet with 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 were also present at the meeting.

Copyright Mettis Link News