The move is part of the UAE’s 2051 National Food Security Strategy, which focuses on implementing strong agricultural practices that boost productivity.
In another key step in the UAE’s journey to produce its own food resources, the Ministry of Climate Change and the Environment (MoCCAE) and the Emirates Development Bank will provide financing solutions for modern agricultural SMEs and start-ups.
UAE’s sustainable economic development and food security are one of EDB’s five priority sectors as it plays a vital role in strengthening the economic resilience and competitiveness of the country.
The two organisations will identify opportunities for food security collaboration and support SMEs and start-ups. The EDB will offer financing solutions to agricultural businesses, while the MoCCAE will host regular seminars and introductory courses on modern agricultural methods and technologies.
A Memorandum of Agreement was signed to this effect by Mohammed Mousa Alameeri, Assistant Under-Secretary for the Food Diversity Sector, and Ahmed Mohamed Al Naqbi, CEO of EDB.
Alameeri said: “Improving local agricultural production through promoting the adoption of modern agriculture is a priority for MoCCAE in line with its strategy to enhance food security.
“The agreement with the EDB falls within the ministry’s efforts to join forces with strategic partners to explore opportunities that drive agricultural and fisheries production and launch appropriate financing schemes to attract entrepreneurs.”
Al Naqbi added: “The EDB is focused on supporting sectors that diversify the economy towards non-oil GDP and develop sectors that are a national priority for economic self-reliance and those that offer stable and sustainable growth.
“We are pleased to sign this MoU, which is in line with our efforts to support the food security sector that includes agriculture, fisheries, aquaculture, and water desalination as well as other tech-based food and agricultural solutions.
The MOU reflects our commitment to the UAE’s 2051 National Food Security Strategy, which focuses on implementing strong agricultural practices that boost productivity. It is one of EDB’s priority departments because of its central role in the development of the country.
