Date: 27 Nov, 2024
Location: Abu Dhabi National Exhibition Center (ADNEC)
With the presence of a distinguished group of global leaders, including ministers and experts from leading international organizations and decision-makers, H.E. Dr. Obaid Saif Hamad Al Zaabi, Chairman of the Board, presented a presentation undertilde “Enhancing Food Security through implementing the AAAID’s Microfinance Models” on Tuesday, November 26, 2024, at the Global Food Security Summit during the World Food Week 2024, held from November 26-28, 2024, under the patronage of H.H. Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister, Minster of the Presidential Court, and Chairman of the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), at the Abu Dhabi National Exhibition Centre.
During the presentation, Dr. Obaid Saif Hamad Al Zaabi introduced AAAID, its vision, mission, and objectives, as well as the sectors in which it operates, highlighting that AAAID contributes to 52 companies and projects by the end of 2023, with 37 existing companies and 15 projects under establishment and execution. He explained that AAAID has a distinguished experience in financing small farmers and producers in the Republic of Sudan, the Islamic Republic of Mauritania, the Hashemite Kingdom of Jordan, and the Union of Comoros. Dr. Obaid Saif Al Zaabi emphasized the importance of small farmers, who are considered the backbone of society and contribute more than 80% of the total agricultural production in Arab countries.
He explained that the Arab Authority has a model for financing small scall farmers through a program that includes a comprehensive package to enhance financial inclusion among farmers by providing necessary financing and production inputs such as seeds, fertilizers, and pesticides, along with supervising production processes, collaborating with agricultural research centers, using modern techniques in agricultural operations, providing technical support and agricultural supervision, facilitating their access to markets, encouraging them to seek agricultural insurance, and organizing field day events and awarding outstanding farmers.
He also mentioned that AAAID has launched a program for financing rural women in Arab countries, benefiting approximately 4,280 women by 2023, which has contributed to improving their living standards.
In conclusion, Dr. Obaid Saif Hamad Al Zaabi presented several recommendations for small and medium farmers, including providing a revolving fund to offer accessible financing services suitable to their capabilities, assisting in marketing by connecting them with private sector companies, and using technology to enhance agricultural production. He noted that the microfinance projects implemented by the Arab Authority have improved living standards, contributed to youth employment, enhanced women’s contribution to rural development, built their capacities, and achieved rewarding financial returns from the fund’s operations.
AAAID also participated with a distinguished pavilion during the event, attracting numerous visitors and facilitating the exchange of expertise and future visions to enhance investment partnerships aimed at supporting the sustainability of food security in the Arab world and addressing challenges related to bridging the gap in essential food commodities.
