The International Fund for Agricultural Development (IFAD) and BF S.p.A., Italy’s largest listed agri-industrial group, have signed a Letter of Intent to explore opportunities for collaboration aimed at supporting sustainable agricultural development in developing countries, with a particular focus on Africa.

The goal of the partnership is to strengthen food security, reduce dependence on food imports, and create new economic opportunities in rural areas, where most people depend on farming and related agri-food activities for their livelihoods.

“Strengthening Africa’s agricultural systems is essential to create decent job opportunities, especially for young people and women in rural areas, so they can build their future in their own communities,” said Federica Diamanti, IFAD’s Associate Vice-President for External Relations, during the signing ceremony held on the sidelines of the Dakar Business Forum, which brings together Senegalese and Italian businesses. “IFAD can help mitigate risks and create safer and more transparent conditions to facilitate private sector investment,” Diamanti added.

“The signing of this Letter of Intent marks another step forward in BF Group’s internationalization process and in our commitment to promoting innovative, regenerative, and inclusive agriculture,” said Federico Vecchioni, Executive President of BF S.p.A. “The collaboration with IFAD allows us to implement the BFuture Farmmodel, integrating technology, training, and local development to contribute concretely to food security and the growth of the territories where we operate, in full alignment with the objectives of Italy’s Mattei Plan and the United Nations 2030 Agenda.”

Through this agreement, IFAD and BF S.p.A. aim to deepen their collaboration globally, building on the results already achieved in various countries where both organizations pursue shared goals within the framework of Italy’s Mattei Plan for Africa.

Africa’s rural development is a priority and a core commitment for IFAD. The Fund’s portfolio in sub-Saharan Africa amounts to over US$4 billion in ongoing projects—representing half of the Fund’s global financial support. IFAD remains committed to scaling up successful investments in Africa by working with local banks, cooperatives, strategic partners, and youth networks to ensure that financing reaches the grassroots level, where it can have the greatest impact in transforming food systems.

As part of broader initiatives to promote sustainable agriculture in Africa, BF, through its subsidiary BF International, has launched investments in Algeria, the Republic of the Congo, Ghana, Senegal, and Côte d’Ivoire under the Italian international cooperation initiative based on public-private partnerships within the framework of the Mattei Plan for Africa. These projects currently cover around 130,000 hectares of land. They form part of BF International’s BFuture Farm programme, designed as a model of sustainable and regenerative agriculture, technology transfer, and community development—an approach fully aligned with IFAD’s mission to build resilient rural livelihoods and strengthen food security.

The collaboration between IFAD and BF S.p.A. thus aims to combine their respective expertise to promote innovative and inclusive agro-industrial models that integrate technology and knowledge. BF International’s experience in precision agriculture and the use of advanced digital tools—such as satellite imagery, artificial intelligence, and cloud platforms—will be combined with IFAD’s global networks and expertise.

Other areas of collaboration include training and capacity-building programmes to enhance the technical and managerial skills of rural communities, as well as awareness-raising initiatives to promote sustainable agriculture as a strategic driver of economic growth in major international forums and policy discussions.

The alliance between IFAD and BF S.p.A. forms part of Italy’s Mattei Plan for Africa, which has established a unique model of multilateral cooperation with IFAD. The Rome-based UN financial institution serves as a technical and financial partner to promote investments in agriculture and rural development, maximizing their reach and impact.

Source: IFAD