I2U2 summit: UAE pledges investment worth $2 billion for development of integrated food parks across India

Post By : Karvi Rana
Post Date : July 15, 2022
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Following the virtual summit held by the leaders of the four-nation grouping I2U2 (India-Israel-UAE-USA), The United Arab Emirates on Thursday announced an investment of USD 2 billion to develop a series of integrated food parks across India as part of efforts to help tackle food insecurity in South Asia and the Middle East.

The I2U2 leaders Prime Minister Narendra Modi, US President Joe Biden, Israeli Prime Minister Yair Lapid, and UAE President Mohammed bin Zayed Al Nahyan in a joint statement, said New Delhi will provide appropriate land and facilitate farmers’ integration into the food parks.

The grouping focused on the food security crisis and clean energy during their meeting and discussed innovative ways to ensure longer-term, more diversified food production and food delivery systems that can better manage global food shocks.

Highlighting the initiatives about food security, the I2U2 leaders said the UAE – home to the International Renewable Energy Agency (IRENA) and host of COP28 in 2023 – will invest USD 2 billion to develop a series of integrated food parks across India. These food parks will incorporate state-of-the-art climate-smart technologies to reduce food waste and spoilage, conserve fresh water, and employ renewable energy sources.

“The U.S. and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project. These investments will help maximize crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East,” the group said in the statement.

The I2U2 leaders expressed their determination to leverage well-established markets to build more innovative, inclusive, and science-based solutions to enhance food security and sustainable food systems.

“The leaders also welcomed India’s interest in joining the United States, the UAE, and Israel in the Agriculture Innovation Mission for Climate initiative (AIM for Climate). They affirmed that these are only the first steps in a long-term strategic partnership to promote initiatives and investments that improve the movement of people and goods across hemispheres, and increase sustainability and resilience through collaborative science and technology partnerships,” the joint statement said.

The I2U2 leaders in a joint statement further said this unique grouping of countries aims to “harness the vibrancy of our societies and entrepreneurial spirit to tackle some of the greatest challenges confronting our world, with a particular focus on joint investments and new initiatives in water, energy, transportation, space, health, and food security”.

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