The World Bank has announced plans to invest up to $14 billion by 2030 to boost global agribusiness through a new initiative, AgriConnect, aimed at creating jobs and driving inclusive growth in developing economies.
The programme, launched during the World Bank Group–IMF Annual Meetings under the theme “From Sectors to Systems: Building Job-Rich Economies at Scale,” seeks to shift smallholder farming from subsistence to profit-oriented enterprise. According to the Bank, AgriConnect could generate millions of jobs while strengthening food systems and rural economies in low- and middle-income countries.
World Bank President Ajay Banga described the initiative as a strategic shift from financing isolated projects to building entire economic ecosystems that promote sustainable job creation.
“We’ve set a target to double our agribusiness commitments to $9 billion annually by 2030, aiming to mobilise an additional $5 billion,” Banga said during the launch event, AgriConnect: Farms, Firms, and Finance for Jobs.
He added that the programme builds on lessons learned from past interventions and global best practices. “Steal shamelessly and share seamlessly; that is how we succeed together,” he said.
According to the World Bank, family farms, including more than 500 million smallholders, produce about 80 percent of the world’s food, yet many remain trapped in poverty due to limited access to markets, finance, and modern technology.
The AgriConnect initiative calls on governments, private investors, and development partners to collaborate in closing these gaps and making agriculture a key driver of employment and economic growth. It prioritises investments in infrastructure, digital technology, and policy reforms that help farmers raise productivity, access financing, and integrate into value chains.
Banga reaffirmed that the jobs agenda remains central to the World Bank’s mission of ending poverty on a livable planet. With more than one billion young people expected to enter the global workforce in the next decade, he noted that agriculture remains one of the most viable sectors for large-scale job creation.
Beyond AgriConnect, the Annual Meetings featured broader discussions on building job-rich economies at scale, with contributions from global leaders, policymakers, and private sector actors. The World Bank’s Development Committee, representing all 189 member countries, reiterated its support for a faster and more impactful institution.
Speakers at the Leaders’ Speaker Series, including Dr. Mona Mourshed, CEO of Generation, and Dr. Rania Al-Mashat, Egypt’s Minister of Planning and International Cooperation, highlighted the need to align education, innovation, and policy with employment generation goals.
Concluding the event, Banga underscored the importance of collaboration and shared purpose: “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.”
