The World Bank has announced plans to invest $14 billion in a new global initiative aimed at transforming agriculture into a powerfulengine of job creation and economic growth by 2030.
The programme, known as AgriConnect, was unveiled during the World Bank Group–IMF Annual Meetings under the theme “From Sectors to Systems: Building Job-Rich Economies at Scale.” It seeks to transition smallholder farming from subsistence-based operations to profitable agribusiness enterprises across developing economies.
According to the World Bank, the AgriConnect initiative could generate millions of jobs, strengthen food systems, and stimulate rural economies in low- and middle-income countries.
World Bank President Ajay Banga described the programme as a “paradigm shift” from funding isolated projects to building entire economic ecosystems that drive sustainable growth.
“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 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.”
The World Bank estimates that family farms — including over 500 million smallholders — produce 80% of the world’s food, yet most remain trapped in poverty due to poor access to finance, markets, and modern technology.
The AgriConnect campaign calls on governments, private investors, and donor agencies to collaborate in bridging these gaps and position agriculture as a key driver of inclusive economic transformation.
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