World Bank Unveils $14 Billion AgriConnect Initiative to Drive Global Agricultural Transformation

The World Bank has launched a groundbreaking initiative called AgriConnect, pledging up to $14 billion by 2030 to revolutionise agricultural development across emerging economies. The programme is designed to create jobs, promote sustainable food systems, and boost private sector participation in agribusiness, with Africa — particularly Nigeria — expected to be a major beneficiary.

Announcing the initiative during the World Bank–IMF Annual Meetings, World Bank President Ajay Banga described AgriConnect as a bold shift from isolated development funding to large-scale transformation that connects farms, markets, and finance. “Jobs are the most powerful pathway out of poverty, and agriculture remains central to that journey,” Banga said, emphasising that the Bank’s focus will move from small interventions to building stronger, integrated systems.

Under AgriConnect, the World Bank plans to double its annual agribusiness financing to $9 billion and attract an additional $5 billion in private investment by 2030. The initiative aims to strengthen value chains, enhance productivity, and improve access to credit, particularly for smallholder farmers who produce about 80 percent of the world’s food but remain among its lowest-income earners.

The World Bank noted that small-scale farmers face persistent challenges — poor access to markets, limited storage and processing facilities, inadequate financing, and minimal use of modern technologies. AgriConnect is structured around three major pillars: strengthening agricultural infrastructure, deploying digital technology to improve productivity and traceability, and reforming policies to attract investment and reduce risks.

Experts believe this initiative could significantly benefit Nigeria’s agricultural landscape. Agriculture contributes nearly 25 percent to Nigeria’s GDP and employs about 70 percent of its rural population, yet productivity has remained low due to infrastructural gaps, limited credit access, and insecurity in farming communities. AgriConnect is expected to address many of these challenges by promoting value chain integration, mechanisation, and market access for rural farmers.

Dr. Muktar Ibrahim, an agricultural economist based in Kano, explained that the programme’s emphasis on value-chain development and private sector participation aligns with Nigeria’s long-term goals to reduce food import dependence and strengthen agribusiness. “Nigeria has enormous agricultural potential, but the lack of coordinated investment and infrastructure limits output. With this World Bank initiative, we can see a future where farmers move from subsistence to commercial production,” he said.

The Bank’s strategy also underscores the importance of public-private partnerships (PPPs) and blended financing — combining concessional and commercial funds to de-risk agribusiness ventures. According to officials, these mechanisms will attract investors, develop storage and logistics systems, and enable agritech firms to expand access to digital platforms for weather data, supply management, and online marketplaces.

AgriConnect also targets youth and women inclusion, recognising their critical role in food systems. The World Bank estimates that over 50 million jobs can be generated through the transformation of agricultural value chains if developing countries prioritise inclusive investment. This would also help stabilise rural economies, reduce migration pressures, and improve resilience to climate change.

Climate resilience is a key component of the initiative. The World Bank intends to fund sustainable practices such as regenerative farming, efficient irrigation, and renewable energy-powered agro-processing. These measures will not only mitigate greenhouse gas emissions but also protect farmers from extreme weather impacts that threaten yields and food security.

In Nigeria, where climate variability and flooding have disrupted agricultural productivity, the AgriConnect model could help stabilise production and ensure food availability. By focusing on infrastructure such as rural roads, cold storage, and distribution networks, the initiative aims to reduce post-harvest losses, which currently account for about 40 percent of food waste in the country.

While the $14 billion pledge has been widely praised, analysts caution that success will depend on strong governance, policy consistency, and transparent implementation. Agricultural development experts stress that Nigeria and other beneficiaries must ensure that funds are efficiently utilised, projects are monitored, and smallholders — rather than large corporations — remain at the centre of the programme.

Furthermore, countries will need to create enabling environments through land reforms, improved security for farming communities, and lower barriers to trade. Without these measures, the World Bank’s financial commitment could struggle to achieve long-term impact.

The World Bank’s AgriConnect initiative is already entering its preparatory phase, with pilot projects expected to begin in several African and Asian countries. The Bank plans to work closely with national governments to identify priority crops, develop modern supply chains, and foster linkages between farmers and processors.

In summary, the World Bank’s $14 billion AgriConnect initiative marks one of the largest global efforts to reposition agriculture as a driver of inclusive growth and poverty reduction. For Nigeria and other developing economies, it offers a transformative opportunity to modernise the agricultural sector, attract investment, and create millions of jobs. However, the initiative’s ultimate success will rely on how effectively nations align domestic policies with the Bank’s framework and ensure that every dollar invested translates into tangible progress for farmers and communities.