Khalifa Fund, Elite Agro announce partnership agreement to enhance food security levels

ABU DHABI- Khalifa Fund for Enterprise Development and Elite Agro, a leading UAE-based food and agricultural investment organisation, today announced the signing of a two-year Memorandum of Understanding, MoU.

The MoU between the two respective parties has been developed to manage and operate a number of protected farms that fall under the umbrella of Khalifa Fund, with the aim of increasing their production capacity and operational efficiency by introducing the use of innovative agricultural technologies.

The MoU was signed virtually today by Mouza Obaid Al Nasri, Acting CEO of Khalifa Fund for Enterprise Development and Dhafer Rashed Alqasimi, General Manager of Elite Agro.

Commenting on the signing, Al Nasri said, "This agreement will promote the spirit of entrepreneurship amongst Emirati farmers while contributing to food security in the UAE.

Through the ongoing Zari’ programme, Khalifa Fund provided AED88 million worth of financing to 88 farms that use innovative water technology. This agreement is a major step towards achieving our goal to foster entrepreneurship in the agricultural industry, providing the necessary support and funding for farmers to operate successful businesses." She added, "Our two-year agreement will allow farmers to benefit from the vast experience of Elite Agro, as well as play an instrumental role in bringing modern technology to those projects.

It will encourage the exchange of knowledge pertaining to research and development in the produce industry, organise scientific and technical meetings surrounding innovation and tech in agriculture, and strengthen the engagement of UAE nationals in the fresh produce industry." Alqasimi commented, "We are very proud of this partnership with Khalifa Fund and we plan on working closely together to develop the agricultural industry in the UAE. Khalifa Fund was one of the first entities to support innovative technologies that decrease the cost of agricultural production through decreased water and energy consumption."