Key Takeaways:
- The UAE Ministry of Climate Change and Environment (MoCCAE) and Emirates Development Bank (EDB) signed an MoU to support agricultural SMEs and start-ups.
- The initiative aims to promote modern agricultural practices and enhance food security in the UAE.
- EDB will provide financing solutions, while MoCCAE will focus on knowledge-sharing through seminars and courses.
- The collaboration aligns with the UAE’s National Food Security Strategy 2051.
Partnership Overview
The UAE MoCCAE and EDB have announced a Memorandum of Understanding (MoU) to establish financial and developmental support for agricultural SMEs and start-ups. The agreement seeks to advance state-of-the-art agricultural practices and contribute to the UAE’s economic diversification and food security agenda.
The agreement was signed by Mohammed Mousa Alameeri, Assistant Under-Secretary for the Food Diversity Sector at MoCCAE, and Ahmed Mohamed Al Naqbi, CEO of EDB.
Focus on Food Security and Economic Development
Mohammed Mousa Alameeri highlighted the importance of modern agricultural practices: “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 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.”
Ahmed Mohamed Al Naqbi emphasized the role of agriculture in the UAE’s economic transformation: “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, including agriculture, fisheries, aquaculture, water desalination, and other tech-based food and agricultural solutions.”
Key Elements of the MoU
- Financing for Modern Agriculture: Emirates Development Bank will provide flexible and competitive financial solutions to agricultural SMEs and start-ups, helping them adopt innovative practices.
- Knowledge-Sharing Initiatives: UAE MoCCAE will host seminars and courses on modern agricultural methods and technologies to educate and support entrepreneurs in the sector.
- Alignment with National Strategy: The collaboration supports the UAE’s National Food Security Strategy 2051, which aims to implement resilient agricultural practices and enhance productivity.
Strategic Impacts
The partnership reflects a shared commitment to advancing food security and sustainable development in the UAE. By supporting SMEs and fostering innovation in agriculture, the initiative is expected to play a vital role in strengthening local production and reducing reliance on imports.
Al Naqbi further stated, “The food security sector is one of the EDB’s priority sectors due to its pivotal role in the country’s sustainable development. We will work closely to explore collaboration areas and provide flexible and competitive financing and non-financing solutions to support companies operating in this sector.”
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