Date: 26 Sep, 2024
Location: Dubai - UAE
In line with the shared objectives of the Arab Authority for Agricultural Investment and Development (AAAID) and the Food and Agriculture Organization of the United Nations (FAO) regarding capacity building, the development of innovative financing mechanisms, and experimental solutions to facilitate the adoption of sustainable agricultural practices and enhance food security, a Memorandum of Understanding (MoU) was signed on Wednesday, September 25, 2024, at AAAID’s Headquarters in Dubai, United Arab Emirates.
The MoU was signed by H.E. Dr. Obaid Saif Hamad Al Zaabi, Chairman of the Board of AAAID, and H.E. Abdulhakim Elwaer, Assistant Director General and Regional Representative Regional Office for the Near East and North Africa at FAO.
The MoU aims to enhance and develop cooperation between the two parties to achieve their shared goals in facilitating better investments to transform agri-food systems. The cooperation includes a range of activities such as capacity building, knowledge exchange, resource provision, and the development of financing initiatives to achieve the shared objectives. Additionally, the MoU provides a framework for cooperation between the two parties to enhance their common goals concerning the development of innovative financing mechanisms and experimental solutions that facilitate the adoption of sustainable agricultural practices in Arab countries.
Both parties will develop a work plan outlining specific activities for cooperation, and this work plan will be reviewed regularly. Adjustments to the work plan will be made based on mutual agreement.
It is worth noting that the Food and Agriculture Organization of the United Nations (FAO) is a specialized agency within the United Nations system, established in 1945. FAO aims to raise levels of nutrition and standards of living for all people in member countries, achieve improvements in the efficiency of production and distribution of food and agricultural products, support and enhance the global economy, and ensure the protection of humanity from hunger.
