The International Fund for Agricultural Development (IFAD) has made a bold commitment to transform the lives of at least 70 million small-scale farmers by 2030, as part of the World Bank’s transformative AgriConnect initiative. Announced on October 14, 2025, at the World Bank’s Annual Meetings in Washington, this pledge aims to boost incomes, enhance productive capacity, and improve market access for rural producers, contributing to global food security and economic growth.
What is the AgriConnect Initiative?
The AgriConnect initiative, launched by the World Bank Group, is a groundbreaking effort to revolutionize agribusiness, create jobs, and uplift the livelihoods of 250 million smallholder farmers worldwide by 2030. By fostering collaboration among IFAD, the World Bank, the African Development Bank, and the Inter-American Development Bank, the initiative seeks to strengthen food systems, reduce poverty, and drive sustainable economic opportunities in rural areas.
IFAD’s pledge to reach 70 million small-scale farmers aligns with this ambitious goal, focusing on rural and fragile regions where poverty and hunger are most severe. According to IFAD President Alvaro Lario, “IFAD investments have led to higher incomes, bigger yields, and better market access for small-scale food producers. We will target at least 70 million people in rural and fragile areas, delivering a triple impact.”
Why Invest in Small-Scale Farmers?
Small-scale farmers are the backbone of global food systems, yet they face significant challenges, including climate shocks, limited access to inputs, technologies, and financial services. Rural communities house 80% of the world’s poorest people, but they also hold immense potential. Investing in these communities is not only a moral imperative but also an economic opportunity.
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Economic Growth: Growth in agriculture is 2-3 times more effective at reducing poverty than growth in other sectors, with the greatest impact among the poorest populations.
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Job Creation: Agri-food systems employ 40% of the global workforce. Targeted investments can create millions of jobs across value chains, from input supply to processing and retail.
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Food Security: With global food demand projected to surge by 60% by 2030, small-scale farmers are critical to meeting this need. The agribusiness sector, particularly in Africa, could reach US$1 trillion by 2030, unlocking US$10 trillion in annual economic opportunities by 2050.
IFAD’s Proven Impact
With nearly 50 years of experience, IFAD has a strong track record of transforming rural communities. According to the latest IFAD Impact Assessment (2022-2024):
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Farmers supported by IFAD saw an average income increase of 34%.
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Production grew by 35%, boosting food security and resilience.
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Market access improved by 34%, connecting farmers to lucrative value chains.
By focusing on deep rural areas, IFAD’s investments yield high returns in economic growth, food security, and social stability. These areas, often the most remote and fragile, benefit immensely from targeted interventions.
IFAD collaborates closely with the local private sector to maximize impact. Between 2019 and 2023, 70% of IFAD projects engaged local businesses, focusing on value chain development and rural financial institutions. By leveraging private sector expertise, IFAD helps farmers access:
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Technology and know-how to boost productivity.
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Markets to sell their produce at better prices.
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Financial services to scale operations and build resilience.
IFAD has also expanded its capacity to lend directly to the private sector, de-risking investments for small- and medium-sized enterprises (SMEs) and rural financial institutions. This approach creates economic opportunities and jobs, particularly for youth in rural areas.
Empowering Youth and Driving Innovation
With 1.2 billion young people entering the job market in developing countries over the next decade, IFAD is investing in green jobs, digital innovation, and youth-led agri-SMEs. By providing mentorship, vocational training, and access to finance and technology, IFAD is making agriculture more attractive to younger generations. These efforts ensure that rural food systems remain dynamic and sustainable.
A Vision for the Future
As an integrated investment platform, IFAD connects governments, development banks, and private investors to channel resources to rural communities. By aligning with the AgriConnect initiative, IFAD is poised to play a pivotal role in transforming global food systems.
The pledge to reach 70 million small-scale farmers will primarily focus on sub-Saharan Africa and low-income countries, where over 200 IFAD-supported projects will be implemented between 2025 and 2030. These projects will target rural people who rely on agriculture for their livelihoods, ensuring that investments translate into higher incomes, better yields, and stronger market connections.
IFAD’s commitment to transforming the lives of 70 million small-scale farmers is a game-changer for rural development and global food security. By partnering with the World Bank’s AgriConnect initiative, IFAD is driving a movement to unlock the untapped potential of rural communities. With a focus on economic growth, job creation, and resilience, IFAD is paving the way for a brighter, more sustainable future for smallholder farmers worldwide.
