Emirates News Agency – EDB reaffirms commitment to UAE food security and self-reliance at Future Food Forum 2022

DUBAI, 6th October, 2022 (WAM) — The Emirates Development Bank (EDB), a key financial engine for the UAE’s economic development and industrial advancement, has reaffirmed its commitment to UAE food security and self-reliance as a future platinum partner at the Food Forum 2022.

Under this year’s theme “Changing the Future of Food and Beverage Manufacturing”, the Future of Food Forum 2022 took place on 5-6 October, bringing together key representatives from the UAE and international food and beverage industries to discuss how to tackle the region Challenge methods and opportunities.

Ahmed Mohamed Al Naqbi, CEO of EDB, said: “Food security in the UAE is fundamental to the long-term health and well-being of its population. Therefore, transforming the UAE into a regional hub for local food production is a key priority for EDB as the UAE Development Bank. UAE The National Food Security by 2051 will be achieved through strategic cooperation between the private and public sectors, which can support the country to leverage its advanced technological capabilities to enable innovative food manufacturing solutions. The EDB collaborates with local free zones and entities such as climate change A meaningful partnership with the Ministry of Environment and Food Tech Valley) to ensure that businesses within the sector have access to financing and guidance to support their mission of enhancing the UAE’s food security and agricultural capabilities.”

The EDB highlighted the favourable financing conditions it offers to start-ups, SMEs and large corporations registered in the UAE and engaged in activities that have a high developmental impact on the UAE’s food security and manufacturing capabilities. Prospective customers who visit the EDB booth are introduced to EDB’s proprietary Development Impact Scorecard, where banks make loan decisions based on a company’s potential contribution to economic development and domestic value, as well as EDB’s unique approach to patient debt, which offers flexible pricing loans for longer terms and preferential terms.

During the leadership panel on Food and Beverage Manufacturing Partnerships for Sustainable Economic Growth, CEO Ahmed Al Naqbi highlighted the importance of public-private sector partnerships in ensuring corporate empowerment and a supportive environment to enhance food production capacity in the UAE . EDB Chief mSME Officer Shaker Zainal shared his insights on EDB’s strategy to support the development of localized expertise in a panel discussion on “Creating Regional Knowledge Hubs for Food and Beverage Manufacturing Development”. By improving the financing capacity and financial inclusion of entrepreneurs and SMEs in the industry, EDB aims to enable innovation drivers to expand their impact on expanding local food production and cutting-edge agricultural practices.