The United Arab Emirates announced a $2 billion investment to develop integrated food parks across India as part of the efforts by the four-nation grouping I2U2 (India-Israel-UAE-USA) to address food insecurity in South Asia and the Middle East.
The decision was made following a virtual summit attended by the leaders of the grouping, including the Prime Minister of India, the President of the United States, the Prime Minister of Israel Yair Lapid, and the President of the UAE Mohammed bin Zayed Al Nahyan.
The leaders of I2U2 stated that India will provide land and support farmers’ integration into the food parks. They discussed innovative ways to ensure diversified food production and delivery systems to manage global food shocks better.
The UAE will invest $2 billion in developing integrated food parks in India with climate-smart technologies to reduce waste, conserve water, and use renewable energy sources. The U.S. and Israeli private sectors will contribute expertise and solutions to enhance project sustainability.
The I2U2 group will also work on a hybrid renewable energy project in Gujarat with 300 MW of wind and solar capacity, as well as a battery storage system. The U.S. Trade and Development Agency funded a feasibility study for this $330 million project.
The leaders of I2U2 are committed to promoting initiatives and investments to improve food security and sustainable food systems. They aim to leverage markets for innovative solutions and partnerships in various sectors.
The joint statement highlighted the group’s focus on joint investments and initiatives in different areas, including water, energy, transportation, space, health, and food security. They aim to mobilize private sector capital and expertise for infrastructure modernization and low-carbon development.
The leaders reiterated their support for the Abraham Accords and other peace agreements with Israel, welcoming economic opportunities for sustainable investment among the I2U2 partners.
