CA Yunus urges IFAD to create social business fund for young agriculture entrepreneurs in Bangladesh
'Such a fund would address social issues, including healthcare for the poor and promote entrepreneurship among youth, farmers, women and those involved in the fishing industry,' Muhammad Yunus tells IFAD President Alvaro Lario.
Chief Adviser Muhammad Yunus has urged the International Fund for Agricultural Development (IFAD) to establish a social business fund aimed at supporting young agricultural entrepreneurs, women, farmers and food processors in Bangladesh.
Yunus made the proposal during a meeting with IFAD President Alvaro Lario on the sidelines of the World Food Forum yesterday (12 October).
"I encourage you to create a social business fund," said Yunus, adding, "Such a fund would address social issues, including healthcare for the poor and promote entrepreneurship among youth, farmers, women and those involved in the fishing industry."
Keep updated, follow The Business Standard's Google news channel
During their meeting, the two leaders discussed a range of strategic issues, including support for launching Bangladesh's deep-sea fishing industry, expanding exports of mangoes and jackfruit, promoting climate-resilient agricultural entrepreneurship, and assisting buffalo farmers in producing dairy products such as mozzarella cheese.
Yunus invited the IFAD president to visit Bangladesh and send a team to explore potential opportunities for collaboration in agriculture, social business and technology, said Chief Adviser's Deputy Press Secretary Azad Majumder.
In response, Lario expressed IFAD's keen interest in supporting social business initiatives and expanding collaboration with the private sector in Bangladesh.
He noted that IFAD is currently funding more than half a dozen agricultural projects in the country.
The chief adviser also emphasised 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 big quantities of both mangoes and jackfruit from Bangladesh," he added.
Farida Akhter, adviser for fisheries and livestock, also attended the meeting and highlighted how Bangladeshi women dairy farmers are producing mozzarella cheese from buffalo milk.
She requested IFAD's support to scale up cheese and other dairy production in the country.
Discussing the untapped potential of the Bay of Bengal's deep-sea fishing industry, Yunus noted that most Bangladeshi fishermen operate only in shallow waters due to a lack of investment and technological know-how.
"We don't yet dare to go into deep-sea fishing. IFAD can support this sector through funding and technology sharing," he said.
Since its engagement in Bangladesh began in 1978, IFAD has partnered on 37 projects with a combined value of $4.26 billion, of which $1.13 billion was directly financed by IFAD. Currently, six projects worth $412 million are underway in Bangladesh, with one additional project in the pipeline.
Yunus arrived in Rome at around 5pm to attend the World Food Forum, organised by the Food and Agriculture Organization (FAO).
He is scheduled to deliver a keynote speech at the event and meet with high-level dignitaries.
