Abstract
World Bank funding for agricultural development has fallen sharply, despite the evident need and a good track record. The reasons are both internal to the Bank and also external, within client countries. A new strategy has been developed to reverse the trend, by focusing more sharply on the contribution of rural development to poverty reduction. The strategy rests on three legs: (i) fostering broad‐based rural growth; (ii) improving social well‐being, managing risk, and reducing vulnerability; and (iii) enhancing the sustainable management of natural resources. Innovations include a new emphasis on the rural non‐farm economy, and on risk management in rural areas.
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