The Arab Authority for Agricultural Investment and Development (AAAID) praised the UAE’s initiative for agricultural innovation to counter climate change’s impact.
This was launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, at the recent virtual “Leaders Summit on Climate” hosted by the US.
Over the next five years, the event aims to promote research, development, and innovation in the agricultural sector and food systems to mitigate the repercussions of climate change and adapt to it.
H.E. Mohammed Al Mazrooei, President of AAAID, stated his admiration for Sheikh Mohammed’s initiative on agricultural innovation in the face of climate change. Mr. Al Mazrooei also said that AAAID values the initiative and pledges their support and encouragement in achieving its objectives. Several developed countries, including the US, the UK, and Denmark, have expressed their recognition and support.
According to Mr. Al Mazrooei, AAAID is the only joint Arab financial institution that has been operating in the field of investment and agricultural development for 44 years and works directly with small farmers and producers in Arab countries’ rural areas.
This is due to the assumption that, while the consequences of climate change are harmful to the entire world, it is experienced more heavily in the rural population in the Arab countries.
Farmers have increased their production and efficiency as a result of the use of new technologies. This was demonstrated by transitioning from a traditional to a modern agricultural pattern, as well as maximizing the use of agricultural resources such as land, water, and other resources.
Above all, this can be seen in the use of modern technology to assist farmers by enhancing their capabilities and competencies, thereby expanding arable land and increasing both quantitative and qualitative production. This was achieved systematically, according to thoughtful financing programs.
Currently, AAAID is seeking to promote an agricultural innovation strategy based on studies and research, similar to the UAE initiative, which involves public and private sector collaboration and coordination in the same field. This initiative will be formed based on research and development in all aspects of agriculture and food production.
Furthermore, AAAID’s projects and investment initiatives will incorporate emerging technology and creative approaches, which will be extended as AAAID contributes to 55 companies and agricultural projects around the Arab world.
The initiative is in line with its desire to expand its projects and programs in the rest of the Arab world, focusing on more geographical and sectoral diversity to promote and achieve Arab food security. This is done in collaboration with Arab nations, as well as other countries and international organizations, to achieve their goals for the happiness and well-being of the Arab and global populations.