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Business Dubai

Sheikh Mohamed approves Dh5.6b budget for food, water research

The UAE on Monday (March 25) reaffirmed its commitment to tackle pressing issues of water scarcity and food security with major fund allocation and new partnership.

“Today we approved Dh5.6 billion to support research and development into the global challenges of water scarcity & food security over the next five years. We have directed the executive committee to form global partnerships that seek innovative solutions in these vital areas,” His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said in a tweet on Monday.

The UAE is pulling all stops to find sustainable and innovative solutions through Ghadan 21 – a Dh50 billion stimulus programme started last year. In a step forward in Ghadan 21 R&D initiative, the executive committee of the Abu Dhabi Executive Council on Monday entered into a three-year partnership with XPrize Foundation to launch a series of XPrize Abu Dhabi competition that will unite talented minds from the UAE and globally to develop solutions for world’s biggest challenges.

Sara Awad Issa Musallam, chairperson of the Department of Education and Knowledge and a member of the Executive Council, said Abu Dhabi government has committed Dh300 million over the next three years to launch 2-3 prizes every year.

XPrize Abu Dhabi competition, she said, is the largest partnership between a government and XPrize Foundation.

Peter Diamandis, founder and executive chairman of XPrize competition, which is created by a group of philanthropists, entrepreneurs and others, has awarded over $140 million over two decades for innovative ideas which can make meaningful change in the world.

Diamandis said the partnership isn’t just a priority for Abu Dhabi but for the world. The partnership, he hoped, will bring new ideas and innovations to life. Sheikh Khalid bin Mohamed bin Zayed, chairman of the executive committee and member of the Abu Dhabi Executive Council was also present.

SOURCE

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