Chief Adviser, Prof 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.
Prof Yunus made the proposal during a meeting with IFAD President Alvaro Lario on the sidelines of the World Food Forum on Sunday.
"I encourage you to create a social business fund,” said Prof 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.”
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.
Prof 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 Deputy Press Secretary Abul Kalam Azad Majumder.
In response, President Lario expressed IFAD’s keen interest in supporting social business initiatives and expanding collaboration with the private sector in Bangladesh.
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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 on 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.
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