Sharjah 24 - WAM: The Ministry of Climate Change and Environment (MoCCAE) and Emirates Development Bank (EDB), the key financial engine of the UAE’s economic diversification and industrial transformation agenda, signed a Memorandum of Understanding (MoU) to set up a scheme to offer finance solutions to modern agricultural SMEs and start-ups.
The cooperation is in a bid to contribute to the UAE’s sustainable economic development and food security – one of EDB’s five priority sectors that play a vital role in strengthening the economic resilience and competitiveness of the UAE.
The agreement was signed by Mohammed Mousa Alameeri, Assistant Under-Secretary for the Food Diversity Sector at the Ministry, and Ahmed Mohamed Al Naqbi, CEO of EDB. The MoU aligns with ministry's endeavours to scale up local agricultural production to increase the sector’s role in strengthening the country’s food security.
Under the MoU, the two parties will identify collaboration opportunities in food security and supporting SMEs and start-ups. The EDB will offer financing solutions to modern agricultural businesses, while the MoCCAE will host regular seminars and introductory courses on modern agricultural methods and technologies.
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