Emirates Development Bank Advances UAE Food Security with Innovative Financing at Future Food Forum
Emirates Development Bank (EDB), a key financial driver for the UAE’s economic and industrial growth, recently participated in the sixth annual Future Food Forum, reinforcing its role in closing financing gaps for local agriculture businesses and food producers. Through strategic financing solutions like its Agritech Loans Program, EDB is making strides to support the UAE's National Food Security Strategy 2051.
With an AED 100 million allocation, the Agritech Loans Program offers tailored loans of up to AED 5 million to support sustainable agricultural practices among farmers and local producers. This initiative underscores EDB’s commitment to fostering innovation and growth in the agritech sector, which is crucial for sustainable food production in the UAE.
His Excellency Ahmed Al Naqbi, CEO of EDB, highlighted the importance of EDB’s efforts, stating, “EDB is committed to supporting sustainable local food production and driving AgriTech innovation, in line with the UAE’s food security strategy. By providing customized financing solutions, we empower SMEs and foster resilience in the food security sector.”
Additionally, Abdulla Al Hamed, Senior Vice President of mSMEs at EDB, participated in a panel discussion on enhancing the startup ecosystem in the F&B manufacturing industry. He emphasized EDB’s dedication to supporting SMEs, stressing the role of collaborative efforts between financial institutions and industry leaders to drive innovation in the agriculture sector.
The Future Food Forum, held at Le Meridian Hotel in Dubai, gathered regional and international leaders to discuss sustainable strategies for the MENA region’s food industry. EDB’s active role in the forum reflects its commitment to promoting resilience and sustainability within the UAE's food security landscape.
