The World Bank has unveiled a $14 billion investment plan to transform global agriculture through AgriConnect, a new programme aimed at boosting agribusiness and job creation in developing economies by 2030.
Announced during the World Bank–IMF Annual Meetings, AgriConnect seeks to shift smallholder farming from subsistence to profit-driven enterprise. The initiative targets low- and middle-income countries where agriculture remains central to livelihoods.
World Bank President Ajay Banga said the programme reflects a strategic shift from isolated project financing to building economic ecosystems that support sustainable job growth. “We’ve set a target to double our agribusiness commitments to $9 billion annually by 2030, aiming to mobilise an additional $5 billion,” he stated.
AgriConnect will focus on infrastructure, digital technology, and policy reforms to help farmers increase productivity, access financing, and integrate into value chains. The Bank expects the programme to generate millions of jobs and strengthen rural economies.
According to the World Bank, over 500 million smallholder farms produce 80% of the world’s food but face persistent barriers to market access, finance, and technology. AgriConnect aims to close these gaps through coordinated efforts from governments, private investors, and donor partners.
Banga emphasised that agriculture offers significant employment potential, especially as over one billion young people are projected to enter the global workforce in the next decade. “Jobs remain the most reliable route out of poverty,” he said. “They provide dignity, stability, and hope.”
The Annual Meetings also featured discussions on building job-rich economies, with contributions from global leaders including Dr Mona Mourshed and DDrRania Al-Mashat. The World Bank’s Development Committee reaffirmed its commitment to faster, more effective impact delivery.
AgriConnect concluded a week of high-level engagements focused on aligning economic development with inclusive growth. The programme is positioned as a cornerstone of the Bank’s broader mission to end poverty on a liveable planet.
