EDB launches $27.2mln AgriTech loans to boost UAE food security

EDB launches $27.2mln AgriTech loans to boost UAE food security

Emirates Development Bank (EDB) today unveiled the UAE's first-of-its-kind AgriTech Loans Programme, set to allocate a substantial AED 100 million in financing support for the country's vital food security sector. The new AgriTech Loans Programme 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 modernisation efforts. Ahmed Al Naqbi, CEO of EDB, said, “We understand UAE food security is fundamental to the long-term health and wellbeing 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 2051. “Leveraging our competitive and accessible financing solutions, we aim to facilitate the adoption of advanced technology and cutting-edge solutions, contributing to the realisation of this strategic vision.” 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