EDB Strengthens Commitment to Food Security at Gulfood Green & Agrotech 2024

The Emirates Development Bank (EDB) reinforced its commitment to enhancing national food security during Gulfood Green & Agrotech 2024, held from September 24 to 26 at the Dubai World Trade Centre.

This premier event showcased EDB's initiatives to support the agritech sector and promote sustainable food production.

Ahmed Mohamed Al Naqbi, EDB's Chief Executive Officer, emphasized the UAE's ambition to become a global leader in sustainable agriculture.

“EDB is fully committed to empowering the pioneers and changemakers who are driving this change,”

he stated, highlighting the bank’s strategic role in providing financial backing to innovative ventures. Al Naqbi underscored the importance of events like Gulfood Green & Agrotech for fostering collaboration and knowledge sharing in the food security landscape.

Food security is a key focus within EDB's five strategic priority sectors, underpinning its mission to bolster national development and economic diversification. Since launching its strategy in 2021, the bank has significantly financed local food production and agriculture. Its AgriTech Loans Programme, offering favorable long-term financing of up to AED 5 million, supports local producers in adopting cutting-edge technologies and sustainable practices.

During the event, Neeraj Gandhi, EDB's Senior Vice President of Product Development (mSMEs), participated in a panel discussion titled “Funding and Financing for Nature-Positive Outcomes.” The session explored attracting investor interest in innovative agritech solutions such as precision agriculture and vertical farming, aligning with the UAE's National Food Security Strategy 2051.

Attendees had the chance to engage with EDB's range of financing solutions, aimed at empowering agritech businesses and contributing to a more sustainable food-secure future.

News Source: Emirates News Agency