Khalifa Fund to support agricultural sector
Abu Dhabi, September 3, 2013
Abu Dhabi-based Khalifa Fund for Enterprise Development has launched a programme to support citizens working in the agricultural sector.
The ‘Zirai’ programme aims to provide training and marketing services, and giving loans of up to Dh1 million ($272,181) interest-free per farmer.
The programme was announced under the guidance of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, in collaboration with Abu Dhabi Farmers’ Services Center.
Hussein Jassim Al Nowais, chairman of the Khalifa Fund, said: “This programme aims to cultivate growth in the agricultural sector by helping our farmers to improve the marketability, profitability and efficiency of their farms through cutting edge technology; for instance by switching to innovative methods that reduce water consumption.”
Under the programme, farmers will be incentivised to transition from traditional to modern agricultural methods such as adopting a hydroponics system that can reduce water consumption by up to 80 per cent. This will in turn lead to an increase in the number of productive farms, as land that was previously considered non-productive becomes more viable to farm.
Al Nowais also pointed out other benefits of the programme, such as reducing the negative effects of soil salt on agricultural products, and contributing to the transfer of sophisticated water management technology in the agricultural sector.
In addition, there will be a reduction in electricity consumption in the agricultural sector, while an improvement in the nation’s food security would lead to a reduction in the country's food imports, he said.
The fund will also provide additional facilities, and give a grace period of up to two years before repayment starts. A flexible schedule of payments will be offered, spanning up to 60 months.
The specialised training courses for the farmers will include accounting skills, preparation of budgets and resource management. The farmers will be exempt from several types of fees from relevant authorities, in order to boost them and help their farms thrive.
The programme also includes a package of marketing facilities to help the farmers sell their produce at the best possible prices and obtain the most attractive returns through smart partnerships with a number of major retail outlets. - TradeArabia News Service
More Industry, Logistics & Shipping Stories
- Qatar sets up mixed business incubator
- Non-oil sectors ‘biggest contributors to UAE economy’
- Alba educates customers on best practices
- Spinneys to set up distribution centre at Kizad
- Maritime courses draw more trainees
- Dow to showcase at Dubai coatings expo
- UAE aluminium sector backs Syria refugees
- Asry in big vessel repair milestone
- Flare, Jordan form parent company ‘Aereon’
- Drydocks delivers second MCV for US
- ASIS launches amphibious leisure boat
- Taskforce sought to develop Saudi downstream sector
- DP World launches $200m India project
- RAK 'exploring' ceramics unit stake sale
- Mideast carriers top global air freight growth
- DMCA launches maritime solution apps
- Saudi plans oil-to-chemicals plant at Yanbu
- Sabic gets four bids for JV with Mitsubishi Rayon
- Pentair, IDC launch industrial services JV
- Major maritime conference to be held in Dubai
- GPIC wins key IFA certification
- Gulf rules must aid e-commerce: Aramex
- Gulftainer expands 2013 ops by 50pc
- DMCA to take part in Dubai boat show
- Al Namal to launch eco-friendly chillers
- Abu Dhabi city ports to receive facelift
- Kuwait Styrene posts $180m net profit
- Drydocks set for key energy event
- Aramex launches new address check system
- Toshiba in green push at Bahrain expo