The World Bank has announced a major global agriculture initiative, pledging $14 billion to support agribusiness transformation by 2030.
The new programme, AgriConnect, aims to shift smallholder farming from subsistence to profit-driven enterprise, creating millions of jobs and fostering inclusive growth across developing economies.
The initiative was launched during the World Bank Group–International Monetary Fund Annual Meetings under the theme “From Sectors to Systems: Building Job-Rich Economies at Scale.”
According to World Bank President Ajay Banga, AgriConnect represents a strategic shift from financing individual projects to developing entire ecosystems that can sustain economic growth and job creation.
“We’ve set a target to double our agribusiness commitments to $9 billion annually by 2030, with an additional $5 billion to be mobilised,” Banga said at the launch event titled AgriConnect: Farms, Firms, and Finance for Jobs.
“This is grounded in what we’ve tested in the field and in lessons borrowed from others. Steal shamelessly and share seamlessly; that is how we succeed together.”
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The World Bank noted that family farms — including over 500 million smallholders — produce around 80 percent of the world’s food, yet many still lack access to markets, finance, and modern technologies.
Through AgriConnect, the Bank aims to close these gaps by promoting investments in infrastructure, digital tools, and policy reforms that enhance productivity and integrate farmers into global value chains.
The Bank emphasized that strengthening agriculture remains central to its mission of ending poverty on a livable planet.
With over one billion young people expected to join the global workforce in the next decade, Banga described agriculture as one of the few sectors capable of creating large-scale employment.
The AgriConnect programme calls for collaboration among governments, private investors, and donor agencies to make agriculture a major driver of economic opportunity and food security.
Beyond AgriConnect, the Annual Meetings also explored strategies for building “job-rich economies,” bringing together global leaders, policymakers, and private-sector actors.
The World Bank Development Committee, representing all 189 member nations, reaffirmed support for a faster, more impact-driven institution.
At the sidelines, speakers such as Dr. Mona Mourshed, CEO of Generation, and Dr. Rania Al-Mashat, Egypt’s Minister of Planning and International Cooperation, shared insights on aligning education and innovation with job creation goals.
Banga concluded by stressing the central role of employment in sustainable development:
“Jobs remain the most reliable route out of poverty. They provide dignity, stability, and hope. Through AgriConnect, we are connecting the dots between farms, firms, and finance to deliver those opportunities at scale.”
