The International Fund for Agricultural Development (IFAD) has announced a major commitment to transform the lives of at least 70 million small-scale food producers by 2030. This pledge is part of the World Bank’s AgriConnect initiative, which aims to boost rural livelihoods, create jobs, and enhance global food security.
The announcement was made by Alvaro Lario, President of IFAD, during the launch of AgriConnect at the World Bank Annual Meetings in Washington, D.C. According to him, the initiative will focus on increasing farmers’ incomes, improving productivity, and strengthening access to markets across developing regions.
> “IFAD investments have consistently led to higher incomes, bigger yields, and better market access for small-scale food producers. Our goal is to deliver that triple impact for at least 70 million people in rural and fragile areas,” said Lario.
The AgriConnect initiative, led by the World Bank, is a global partnership designed to transform the lives of 250 million smallholder farmers through collaboration with institutions like IFAD, the African Development Bank, and the Inter-American Development Bank.
IFAD’s Role in Rural Transformation
For nearly 50 years, IFAD has been investing in remote rural areas where poverty and hunger are most severe. Its experience shows that investment in smallholder farming can be transformational — generating income growth, food security, and economic stability.
A recent IFAD impact assessment revealed that between 2022 and 2024, farmers supported by IFAD saw their incomes rise by 34%, production increase by 35%, and market access expand by 34%. These results highlight the long-term value of supporting small-scale food producers as engines of economic growth and rural development.
According to Mediaplusng.com, IFAD’s strategy also focuses on engaging local private sector players to strengthen agricultural value chains. Between 2019 and 2023, 70% of IFAD projects partnered with rural businesses to help farmers access technology, finance, and market opportunities.
Driving Jobs and Innovation for the Next Generation
In addition to direct support for farmers, IFAD invests in green jobs, digital innovation, and agro-enterprises that attract younger generations to agriculture. By promoting youth-led agri-SMEs and expanding vocational training, IFAD aims to create sustainable employment and reduce rural poverty.
As reported by Mediaplusng.com, IFAD’s expanded private-sector lending now helps de-risk investments for small and medium-sized enterprises (SMEs), improving access to finance and boosting rural economies.
Agriculture: The Key to Global Food Security
Rural communities remain home to 80% of the world’s poorest people. With climate challenges, low productivity, and limited access to finance, they face immense barriers yet hold untapped potential. Experts say that growth in agriculture is two to three times more effective at reducing poverty than growth in other sectors.
With the world’s population projected to increase food demand by nearly 60% by 2030, agriculture could unlock over $10 trillion in economic opportunities by 2050, including $1 trillion in Africa’s agribusiness sector alone.
The IFAD-World Bank partnership under Mission AgriConnect is set to turn this potential into progress, empowering millions of smallholder farmers, creating jobs, and driving inclusive growth across rural communities.
