UAE banks provide AED 500m to agricultural sector in Q1

UAE banks provide AED 500m to agricultural sector in Q1

UAE - Mubasher: UAE banks have injected AED 500 million in the agricultural sector during the first quarter (Q1) of 2020, recording the highest credit facility provided to the sector in years, according to the Emirates News Agency (WAM).. The facilities are in line with the UAE government's directives to implement the food security strategy, which was launched in 2018 to develop sustainable food production.. The AED 500 million facilities have contributed to increasing the total cumulative balance of facilities to AED 1.55 billion by the end of March, compared to AED 1.05 billion in December 2019..