The Ministry of Climate Change and Environment (MOCCAE) and Emirates Development Bank (EDB) signed a memorandum of understanding (MoU) to finance modern agricultural ventures.

The agreement aims at offering finance solutions to modern agricultural SMEs and start-ups to contribute to the UAE’s sustainable economic development and food security.

The agreement was signed by His Excellency Eng Mohammed Mousa Alameeri, Assistant Undersecretary for the Food Diversity Sector at MOCCAE, and Mr Ahmed Mohamed Al Naqbi, CEO of EDB.

The MoU is part of the comprehensive vision for the national economy to position the country as a global hub for industry, advanced technology while guaranteeing its industrial, food, and technological security.

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His Excellency Eng 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 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”.

The MoU also reflects EDB's commitment to the UAE’s National Food Security Strategy 2051 which focuses on implementing resilient agricultural practices that increase productivity.

EDB will offer financing solutions to modern agricultural businesses, while MOCCAE will host regular seminars and introductory courses on modern agricultural methods and technologies, highlighting their importance for food security and the sustainability of the sector.

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