Professor Muhammad Yunus, Chief Advisor and Nobel Laureate, 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 October 12 in Rome, on the sidelines of the World Food Forum. Yunus emphasized that such a fund would help address social challenges including healthcare for the poor and promote entrepreneurship across key sectors such as agriculture and fisheries.

The two leaders discussed a range of strategic issues including the development of a deep-sea fishing industry in Bangladesh, expanding the export of tropical fruits like mangoes and jackfruit, promoting climate-resilient agriculture, and supporting dairy farmers to produce value-added products like mozzarella cheese from buffalo milk. Professor Yunus invited the IFAD President to visit Bangladesh and suggested sending a delegation to explore potential areas of collaboration in agriculture, social business, and technology.

In response, President Lario expressed strong interest in supporting social business initiatives and enhancing cooperation with Bangladesh’s private sector, noting that IFAD is currently financing more than six agricultural projects in the country. Professor Yunus also stressed the need for technical assistance and investment in fruit processing, cold storage, warehousing, and large-scale tropical fruit exports. He mentioned that while mango exports have begun, the volume remains low despite strong interest from countries like China.

Addressing the potential of deep-sea fishing, Yunus pointed out that most Bangladeshi fishers are limited to shallow waters due to lack of investment and technical knowledge, and urged IFAD to support this untapped sector through funding and technology sharing.