Emirates Development Bank unveils UAE’s 1st AgriTech Loans Program

Emirates Development Bank unveils UAE’s 1st AgriTech Loans Program

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Emirates Development Bank (EDB) has unveiled the UAE’s first-of-its-kind AgriTech Loans Program, set to allocate a substantial $27.2 million in financing support for the country’s vital food security sector.

The new AgriTech Loans Program is designed to enable a sustainable and thriving national agriculture sector, positioning the UAE as a global leader in agricultural innovation. With a vision to enhance food security, EDB’s new product aims to empower farms, local growers and food suppliers by supporting their adaptation and modernization efforts.

The UAE’s National Food Security Strategy 2051 aims to make the UAE the world’s best on the Global Food Security Index by 2051. The strategy outlines plans to develop a comprehensive national system based on enabling sustainable food production by using modern technologies while enhancing local production.

Recognizing the need to embrace cutting-edge technology, the AgriTech Loans Program addresses the challenges faced by the agricultural industry and promotes its evolution.

Ahmed Mohamed Al NaqbiCEO – EDB

“We understand UAE food security is fundamental to the long-term health and well-being of the population. As the UAE’s development bank, it is our top priority to transform the nation into a regional hub for local food production in line with the National Food Security Strategy