World Bank plans major investment to help small farmers move from survival farming to profitable agribusiness.
The new program aims to improve food systems and create better job opportunities worldwide.
The World Bank has unveiled plans to invest up to $14 billion in global agriculture by 2030 to help small farmers move from survival farming to profitable business. The funding will be delivered through a new program called AgriConnect, introduced at the World Bank and International Monetary Fund Annual Meetings.
The Bank said the initiative aims to make agriculture a strong source of jobs and economic growth in developing countries. It will support farmers with access to markets, modern tools, and finance so they can earn more and help build stronger food systems.
World Bank President Ajay Banga described AgriConnect as a shift away from funding one project at a time. He said the goal now is to support full economic systems that can improve lives at scale.
“We have set a target to double our agribusiness support to nine billion dollars every year by 2030, with an extra five billion dollars expected from partners,” Banga announced. “This is based on what we have seen in the field and the lessons from others.”
The Bank noted that family farms, including over 500 million smallholders, produce most of the world’s food but many remain poor due to poor market access and lack of technology.
AgriConnect will focus on investments in infrastructure, digital tools, and policy changes that help farmers increase production and join value chains. The Bank believes this approach will create work opportunities and reduce hunger in rural communities.
Banga also stressed that job creation remains at the center of the World Bank’s mission to end poverty. He warned that more than one billion young people will enter the global job market in the next decade, and sectors like agriculture will be important in giving them work.
The launch of AgriConnect formed part of wider talks on how to build economies that create jobs for millions of people. The World Bank’s Development Committee confirmed support for faster action and better results across member countries.
Speakers at the meetings also urged stronger cooperation between governments, private investors, and development partners. They said teamwork is key to building modern and productive farming systems.
“Jobs are still the most trusted way out of poverty,” Banga said. “They give people hope and stability. AgriConnect is about helping farmers and rural businesses find those opportunities.”
